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Direct Insurance 2002 profit slides 27% to NIS 25.3m.
(From Israel Business Arena)
Byline: Elazar Levin
Israel Direct Insurance (IDI) had a NIS 25.3 million net profit in 2002, down 27%, compared with 2001, when its profit was NIS 34.45 million. The company published its financial statements today.
IDI's profit on non-life insurance, its main business, headed by direct auto insurance (without agents), amounted to NIS 6.03 million, a 6% increase, compared with 2001. Premiums and fees reached NIS 520.3 million, 12.6% more than in 2001.
Income from investments from non-life insurance business was NIS 6.5 million, a 76% drop, compared with 2001.
Analyzing the data shows that comprehensive …
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