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   Corporate profits go down in the first quarter

Corporate profits go down in the first quarter
  8/22/2010

According to the data from Association of Insurance and Reinsurance Companies of Turkey (TSRŞB), the premium generation in the non-life insurance (elementary) area had an increase of 13.21 percent in the first four months of 2010 compared to the same period of last year.

Içerigi Paylas |

 

 In spite of this positive picture on the premium generation side, the shares of six insurance and one private pension company quoted in the Istanbul Srock Exchange (ISE) faced decreasing total profit or net earnings for the period balance sheet. It went down by 92.2 percent in the first quarter of this year on annual basis. The technical profit for these seven companies, which indicates their profit resulting from custom operations also went down by 54.6 percent in the three months. In the consolidated financial balance sheet of insurance and reinsurance companies issued by TSRŞB, it is observed that the technical profit of the 28 companies forming the industry had a negative profit in the first three months of 2010 excluding their life insurance operations. The consolidated net profit of the non-life insurance sector for the period decreased by by 65 percent
  
  

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