Arig returns to profits

Arab Insurance Group (Arig) has posted a net profit of 15.3 million USD in 2012. A year earlier, the reinsurer had incurred a net loss of 19.1 million USD. The technical result amounts to 27 million USD compared to 0.4 million USD during the previous year. The combined ratio for non-life reinsurance is improving going from 108.6% in 2011 to 96.9% in 2012.
Return on equity is on the rise as it jumped from 4 million USD in 2011 to 21.4 million USD, 12 months later. Gross written premiums decreased by 3.6% at 238.6 million USD. This decline is accounted for by political instability, the sanctions decided against certain countries and tariff competition.