JD 2.02 Million; 2021 Half-year Profit of Middle East Insurance

Sweiss: The results of the first half came to prove the soundness of the policies and strategies adopted by the company

Middle East Insurance announced that it achieved an expected net profit after tax of JD 2 million for the period ending on June 30, 2021, compared to a net profit of JD 345 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 13.4 million, compared to 2020, which amounted to JD 11.1 million.
The company indicated that the compensation paid for the period ending in June 2021 amounted to JD (10.9) million, compared to JD (10.5) million for the same period in 2020. The total expenses inclined to JD 10.8 million in the first half of 2021 compared to JD (10.7) million for 2020. Total assets for the semi-annual period of 2021 amounted to JD (91) million.
The company indicated that the half-year net written premiums amounted to JD (8.7) million, compared to JD (8.1) million for the same period of 2020.

The share of the the period ended on 30 June 2021 profit was (0.092) fils/jd, while it was 0.016 fils/JD last year.

Commenting on the results, Rajai Sweiss, CEO of the Middle East Insurance Company, said that the results of the first half came to prove the soundness of the policies and strategies adopted by the company, which places a great burden on it, aiming to preserve the interests of shareholders and the continuity of the agreement with major international companies for reinsurance and on appropriate terms to be able to provide the highest standards of service to customers and thus the company maintains its distinguished position in the Jordanian insurance market