Abu Dhabi-baased Insurance House which began operations last April, has reported a loss of Dh2.47 million ($672,438) for the period until December 31, 2011.
This translates to a marginal loss of 2 fils per share, said the Abu Dhabi-based start-up company
Insurance House said its total assets grew to Dh264 million, compared to Dh125.8 million on the date of commencement of business. Its gross written premiums too rose to over Dh15 million, it added.
Commenting on the results, Insurance House chairman Mohammed Alqubaisi said: “This is a remarkable achievement for a start-up company, which commenced operations less than 8 months ago.”
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