National Insurance Reports Unaudited Preliminary Consolidated Earnings Results for the Year Ended December 31, 2017
National Insurance reported unaudited preliminary consolidated earnings results for the year ended December 31, 2017. For the year, the company reported gross premiums written of USD 50,698,904 against USD 42,810,929 a year ago. Earned insurance revenues were USD 48,827,323 against USD 40,021,248 a year ago. Negative net premiums ceded to reinsurers were USD 8,908,460 against USD 8,836,723 a year ago. Net premium revenue was USD 39,918,863 against USD 31,184,525 a year ago. Net premium revenues after commissions were USD 39,233,752 against USD 30,932,529 a year ago. Net insurance profit before investment income and general and administrative expenses was USD 8,293,499 against USD 10,621,551 a year ago. Net insurance profit after investment income and general and administrative expenses was USD 3,906,198 against USD 4,575,226 a year ago. Net income before tax was USD 8,626,009 against USD 5,768,869 a year ago. Net income after tax was USD 7,699,993 against USD 4,290,350 a year ago. Basic and diluted earnings per share were USD 0.633 against USD 0.353 a year ago. Net cash flow from operating activities was USD 9,480,078 against USD 6,197,577 a year ago. Purchase of property, plant and equipment was USD 679,316 against USD 695,107 a year ago.