Insurance House’s accumulated losses exceed 89% in Q3-23

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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