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Economic News

Net profit of gig│Arab Orient Insurance increases
by 26% at the end of the 2nd quarter
of the year 2015

The Board of Directors of gig | Arab Orient Insurance held its third meeting for the year 2015, on Monday 27/07/2015, in
order to approve the ompany s nancial statements for the second quarter that ended on 30/06/2015.

he hairman, r. aser o i, declared that the company s results for the second quarter of this year were outstanding
by all standards, where written premiums reached O 54.9 million compared to O 47 million in the same period of
2014, with an increase of 16.8%. he net pro t before tax reached O 4.1 million compared to O 3.1 million in the
same period of 2014, with an increase of 32.7%. he net pro t after tax reached O 3.2 million compared to O 2.5
million in the same period of 2014, with an increase of 26%. he ompany managed to increase its assets by O 6.74
million by end of the second quarter of 2015 to reach O 102.78 million compared to O 94.03 million as at
31/12/2014, with an increase of 9.2%. he ban deposits increased by O 2.03 million, with a growing percentage of 6%
compared to the previous year to reach O 35.7 million.

r. o i added saying that the ompany is een on developing successful strategies and introducing new insurance
products that 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, r. Isam Abdel haliq, the O of gig | Arab Orient Insurance declared that the excellent results of
the past period revealed expertise and continued efforts of the ompany s quali ed team, despite all the current
economic and political challenges facing the region, and its impact on the local insurance sector.

e added that the ompany paid over O 32 million as claims to those who were affected during the second quarter of
this year without affecting the liquidity ratio or the ompany s pro tability. he ompany s fixed deposits, which have
not been used, have increased by over 6% 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 financial position. his ma es 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 ulf Insurance roup, located in seven
Arab countries, which contributes to the ompany s success and achievements. he company s rating has been updat-
ed by the global rating agency A.M. Best. During the year 2015, the Company maintained its credit rating of bbb+ on
2/6/2015, and managed to maintain the financial strength rating of , with a stable outloo for both ratings, which are
the top in the local insurance market for the last consecutive 9 years.

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