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Economic News

Net profits of gig | Arab Orient Insurance
increase by 29% at the end of the 3rd quarter

of the year 2014 compared to the same
period of 2013

The Board of Directors of gig | Arab Orient Insurance held its seventh meeting for the year 2014, on Sunday 26/10/2014,
in order to approve the Company's financial statements for the third quarter that ended on 30/09/2014.

The Chairman, Mr. Naser Lozi, declared that the company's results for the third quarter of 2014 were outstanding by all
standards, where written premiums reached JOD 65.9 million compared to JOD 59.9 million in the same period of 2013,
with an increase of 10%. The net profit before tax and reserve reached JOD 5.1 million compared to JOD 4.1 million for
the same period of 2013, with an increase of 22%. The net profit after tax and reserve reached JOD 3.25 million
compared to JOD 2.52 million in for the same period of 2013, with an increase of 29%. The Company managed to
increase its assets by JOD 6.17 million until the end of the third quarter of 2014 to reach JOD 89.79 million compared to
JOD 83.61 million as at 31/12/2013, with an increase of 7%. The bank deposits increased by JOD 2 million, with a growth
percentage of 7% compared to 31/12/2014, to reach JOD 29.57 million.

Mr. Lozi added: “The Company continued to prove successful performance and appeared to share a number of leader-
ship techniques, marketing efforts and diversity of strategies which resulted in a variety of products to better serve
clients and guarantee maximum protection for their health and properties with the integrity and credibility they seek to
obtain”.

On the other hand, Mr. Isam Abdelkhaliq, the CEO of gig | Arab Orient Insurance declared: “The excellent results of the
past period revealed the endless efforts of the Company's qualified team, and they have grown above all the current
economic and political challenges facing the region”.

He added: “The Company paid over JOD 53 million as claims amounts to those who were affected until the end of the
third quarter of this year without affecting the liquidity ratio or the Company's profitability. Also, the fixed deposits have
not been used, which in turn have increased by over 7% compared to the beginning of the year. We are committed to
paying claims of any amount of money without neither delay nor impact on the company’s financial position. This makes
gig | Arab Orient Insurance the best choice and the safest option for enterprises, corporations and institutions; it also
enhances its profitability, productivity and financial solvency”.

It is worth noting that gig | Arab Orient Insurance operates within the umbrella of Gulf Insurance Group, located in seven
Arab countries, which contributes to the Company's success and achievements. The company's rating has been updat-
ed by the global rating agency “A.M. Best” during the year 2014, in which the Company maintained its credit rating bbb+
on 6/6/2014, and managed to maintain the financial strength rating B++, with a stable outlook for both ratings, which are
the top in the local insurance market for the last consecutive 9 years.

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