Minerva Insurance Company Public Limited Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2017
Minerva Insurance Company Public Limited announced audited consolidated earnings results for the year ended December 31, 2017. For the year, the company reported gross earned premiums of €11,493,955 against €10,946,906 a year ago. Net earned premiums were €10,386,185 against €9,839,706 a year ago. Operating profit was €12,363 against €419,701 a year ago. Loss before taxation was €74,428 against profit before taxation of €282,850 a year ago. Loss for the year was €149,945 or 0.19 cents per share against profit for the year of €131,762 or 0.17 cents a year ago. Net cash flow used in operations was €352,080 against €1,328,423 a year ago. Payments for purchase of property, plant and equipment were €69,991 against €28,214 a year ago. Payments for purchase of intangible assets were €157,832 against €12,987 a year ago.