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U.A.E.: International General Insurance's net earnings slide 13% in first half

August 12, 2014 - 6:00am

U.A.E.-based International General Insurance Holdings Ltd. recorded a 13% year-on-year drop in net earnings to $18.5 million in the first half this year, Middle East Insurance Review reported.

Gross written premiums fell 7% to $138 million. "Our results were in line with our projections given the soft market the industry is facing," said Wasef Jabsheh, chief executive of the company. The insurer reported a combined ratio of 87.6%.

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