PHOTO
Image for illustrative purpose only. A broker looks at a screen in the Dubai Financial Market December 23, 2009. Ahmed Jadallah
Insurance House (IH) reported accumulated losses valued at AED 105.93 million during the third quarter (Q3) of 2023.
The registered accumulated losses represent 89.18% of the capital, according to a bourse statement.
In the first nine months (9M) of 2023, the listed company incurred net losses worth AED 32.57 million, higher year-on-year (YoY) than AED 11.84 million.
Insurance revenues hit AED 185.04 million in 9M-23, an annual increase from AED 177.46 million.
Loss per share reached AED 0.27 in the January-September 2023 period, versus AED 0.10 in 9M-22.
As of 30 June 2023, the accumulated losses amounted to AED 105.43 million, which was equivalent to 88.70% of the capital.
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