VOL. XXXII
NO. 41
17-JULY-1989
Financial and Banking News
REGIONAL BANKING
ARIG's Profits Rise in 1988
The Bahrain-based Arab Reinsurance Group (ARIG) in 1988 reported a net profitof $29.5mn, up 95.4% from $15.1mn in 1987 despite a sharp drop in gross premiumincome, which fell 15.7% in 1988 to $153.6mn. The improvement in returns camelargely from investment income. ARIG, which is jointly owned by the governmentsof Libya, Kuwait and the UAE, declared a profit of $22.5mn in 1986. ARIG's boardof...
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