Solidarity unit H1 earnings rise 140pc

Manama, September 9, 2012

The Jordanian subsidiary of Bahrain-based Solidarity Group Holding  has posted earnings before tax of JD1 million ($1.41 million) for the first half of the year, marking a 140 per cent increase compared to the same period last year.

First Insurance occupied the fourth position in market share, according to a study on the Jordanian insurance market.

Total premium contributions during the first half reached 12.3 million Jordanian dinars ($17.42 million) which is a 45 per cent increase compared to the same period last year.

'We are justifiably proud that First Insurance has achieved outstanding results,' said Solidarity Group chief executive Ashraf Bseisu.

'This is a noteworthy achievement for the youngest player in the Jordanian market in a record breaking period of four years since its establishment.

'It is a direct consequence of the devotion, dedication and world-class expertise of every member of First Insurance and Solidarity Group team.' – TradeArabia News Service

Tags: Bahrain | Jordan | Solidarity | earnings | First half |