Arig turns in Q3 net loss
Arig, the Middle Eastern (re)insurer, announced a net loss of $10.8 m for the first nine months of 2007, down from a net profit of $10.3 in the first nine months of 2008. The group blamed "the global financial turmoil and the steepest fall in recent capital market history."
Third quarter gross written premiums improved to $239m, up from $214m a year earlier.
The group's combined ratio in the third quarter improved to 104.1% from 111.8% in the same period of 2007.
Yassir
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