JD 27.5 Million, Al-Manara Insurance Company’s Half Profits of 2021

Al-Qatati: Efforts were doubled during this period to arrange the situation and restore stability to raise all financial indicators of the company in the next stage.

Al-Manara Insurance Company announced that it achieved an expected net profit after tax of JD 27.5 thousand for the period ending on June 30, 2021, compared to a net profit of JD 641.3 thousand for the period ending on June 30, 2020.

The company stated to the Securities and Exchange Commission that total half revenues for 2021 amounted to JD 7.2 million, compared to 2020, which amounted to JD 3.9 million.
The company indicated that the compensation paid for the period ending in June 2021 amounted to JD (5.3) million, compared to JD (2.8) million for the same period in 2020. The total expenses decreased to JD 328 thousand in the first half of 2021 compared to JD (368) thousand for 2020. Total assets for the semi-annual period of 2021 amounted to JD (137) million.
The company indicated that the half-year net written premiums amounted to JD (7.2) million, compared to JD (4.8) million for the same period of 2020.

The share of the the period ended on 30 June 2021 profit was (0.005) fils/jd, while it was 0.128 fils/JD last year.
Commenting on the results of the first half, the General Manager of Al-Manara Insurance Company, Walid Al-Qatati, stated that the provisions for receivables have a significant impact on the financial results of the sector. Noting that the previous period was not normal on the economy in the world in general and had a great impact on the outcomes of the subsequent years for 2020, and he expressed his sincere thanks to the staff of the company, including administrators, executives and employees for their doubled effort during this period to arrange the situation and restore stability to raise all indicators the company’s finances in the next stage