Arab Insurance Group ( B.s.c) · BAHRAIN:ARIG
Arab Insurance Group ( B.s.c) — H1 2018 Earnings Presentation
9 slides from Arab Insurance Group ( B.s.c)'s earnings presentation, Aug 15, 2018
Slide 1: Interim Results Half Year 2018
Interim Results Half Year 2018 Arab Insurance Group (B.S.C.) - a reinsurance firm regulated by the Central Bank of Bahrain 2nd Quarter 2010 1
Slide 2: Arig discloses its financial results for half year ended 30th June 2018
Arig discloses its financial results for half year ended 30th June 2018 15 August 2018 Bahrain: Arig reported consolidated net loss of US$ 22.4 million attributable to shareholders for the first half of the year 2018, (half- year 2017: net profit of US$ 4.1 million). The negative result is mainly du
Slide 3: Key Results
Key Results (in million US$) HY 2018 HY 2017 Gross premiums written 187.5 189.6 Technical result * 2.7 8.6 Underwriting result ** 0.7 8.4 Investment income 8.8 12.5 Net (loss) / profit attributable to shareholders (22.4) 4.1 Combined ratio*** 104.0% 98.6% HY 2018 Dec 2017 Shareholders’ equity 228.5
Slide 4: Premium Development
Premium Development Gross premiums written (in million US$) HY 2018 HY 2017 Non-life premiums 180.2 179.7 Life premiums 7.3 9.9 Total 187.5 189.6 • Downward premium adjustments of the Lloyd’s portfolio were offset partly by the increase in the traditional reinsurance portfolio. Net earned premiums (
Slide 5: Reinsurance Performance
Reinsurance Performance Technical results (in million US$) HY 2018 HY 2017 Non-life technical (loss) / profit (1.2) 8.6 Life technical profit 3.9 0.0 Total 2.7 8.6 • Arig's traditional reinsurance business recorded lower technical profits of US$ 11.3 million (HY 2017: US$ 13.9 million). • Lloyd’s bu
Slide 6: Technical Reserves
Technical Reserves (in million US$) HY 2018 Dec 2017 Unearned premiums 232.8 193.1 Unreported losses 208.7 250.5 Claims outstanding 258.9 236.9 Total 700.4 680.5 . 6
Slide 7: Asset Management
Asset Management Investment income (in million US$) HY 2018 HY 2017 Cash & bank deposits 0.5 1.0 Fixed maturities 4.2 5.5 Equities 3.1 5.5 Alternative Investments 1.0 0.5 Total 8.8 12.5 Rate of return on invested assets (annualised) 2.7% 3.5% • The drop in the investment income is reflecting the vol
Slide 8: Shareholders' Equity
Shareholders’ Equity (in million US$) (22.4) 256.9 (6.0) 228.5 31 Dec 2017 Net loss Changes on remeasurement 30 Jun 2018 of AFS investments and transfers for recognition of gains on disposal of AFS investments 8
Slide 9: Outlook
Outlook • According to a recent IMF update, global growth is projected to reach 3.9% in 2018 and 2019, but the pace of expansion in some economies appears to have peaked and growth has become less synchronized across countries. Among advanced economies, the growth divergences between the United Stat
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