Investment losses send Arig to FY loss
The dramatic decline in the global equity markets triggered a revaluation in the invested assets held by the Arab Insurance Group (Arig) and produced a net loss of $28.6m for the 2008 financial year, down from a net profit of $23.7m in 2007.
The loss represents 10.6% of the Group's average shareholders' equity for the year. Though Arig did not have direct exposure to troubled assets or failed financial institutions, it could not escape
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