ROC reports $9.62 million Loss for Nine Months
November 14, 2019 IronRock Insurance Company Limited, for the nine months ended September 30, 2019 posted gross premium of $474.61 million relative $381.51 million reported in 2018; this represents a 24% increase year over year. For the third quarter, gross premium was $156.06 million relative to $99.40 million for 2018, up 57%. Proportional reinsurance amounted to $284.08 million compared to $226.37 million in 2018. Excess of loss premium totalled $35.62 million relative to $25.20 million for last year. As such, net premium amounted to $154.91 million relative to $129.94 million in 2018, increasing by 19%. After net unearned premium adjustment
PJAM reports 72% increase in nine months net profit attributable to shareholders
November 13, 2019 PANJAM Investment Limited (PJAM), for nine months ended September 30, 2019 reported a 31% increase in total income to $3.50 billion relative to $2.68 billion booked for the prior year’s corresponding period. For the quarter, total income decreased 23% to close at $1.20 billion (2018: $1.56 million). Of total income: Investment income increased 60% to close at $1.96 billion (2018: $1.22 billion). According to PJAM, “the prior year third quarter included particularly large unrealized gains relating to a significant purchase of shares at a discounted price.” The year to date performance was due to improved realized and
SEP reports 21% decline in nine months net profit attributable to shareholders
Date: November 14, 2019 Seprod Limited (SEP) posted revenue totalling $24.80 billion compared to $14.70 billion recorded for the same period of the prior financial year, representing a 69% increase year over year. Seprod noted, “This was driven primarily by the acquisition of the Facey Consumer Division in Q4 2018 and by an increase in the export business.” The Manufacturing Division recorded a 21% decline for the period while the Distribution Division recorded a significant increase closing at $18.07 billion (2018: $5.24 billion). For the third quarter, total revenue climbed by 69% to total $8.19 billion relative to $4.86 billion