|20 November, 2019

Methaq Takaful records accumulated loss

Accumulated loss-to-capital ratio reached 35.3%

Abu Dhabi – Mubasher: Methaq Takaful Insurance Company’s capital loss recorded AED 53 million during the third quarter of the fiscal year 2019.

The company’s accumulated loss-to-capital ratio reached 35.3% according to a bourse statement released on Wednesday.

Methaq attributed loss to operational loss resulting from AED 26 million insurance business and AED 27 million fair value loss on investments.

It is worth mentioning that the ADX-listed insurer reported a loss of AED 6.494 million over the third quarter of 2019, against a profit of AED 1.607 million in the same period last year.

Source: Mubasher

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