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Arab War Risk Insurance Syndicate posts $19 million in 2013 profits

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Bahrain-based Arab War Risk Insurance Syndicate has reported $19 million in profits for 2013, which chairman Ashraf Bseisu said is noteworthy given "the challenges we face in the Arab and international insurance markets," reports Gulf Daily News.

The syndicate reported a 7.5% increase in total assets to $173 million. Mr. Bseisu said AWRIS' funds increased to $156 million in 2013, compared with $144 million in 2012, Gulf Daily News reported. He also said the number of members in the syndicate increased to 170 companies.

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