VOL. XLIV

No. 16

16-April-2001

BAHRAIN

ARIG Reports Another Annual Loss But Projects Positive 2001

The Bahrain-based Arab Insurance Group (ARIG) announced on 29 March that it had reported a net loss of $90.9mn in 2000 compared to a net loss of $98mn the previous year. ARIGs reinsurance business also recorded a net loss for 2000 of $73.7mn down from a net loss of $86.4mn in 1999. In a statement, ARIG said that this included the run-off operations of the UK subsidiary, which incurred a $15.9mn...