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FijiCare Records Improvement In Financial Results For 2016

FijiCare’s South Pacific Stock Exchange (SPSE) dated 29th August 2016 in respect of the half-yearly results to 30 June 2016 advised a group loss before income tax of $1013482. The
15 Feb 2017 12:16
FijiCare Records Improvement In Financial Results For 2016

FijiCare’s South Pacific Stock Exchange (SPSE) dated 29th August 2016 in respect of the half-yearly results to 30 June 2016 advised a group loss before income tax of $1013482.

The loss was attributed to the effects of tropical cyclone Winston as well as unusually high level of Medivac claims in early 2016.

FijiCare announced a significant improvement in underwriting results in the second half of the year and, based on unaudited management accounts to 31st December 2016, expected a full year group profit before income tax of in excess of $500,000 with all three companies in the group recording profits.

This is subject to both final actuarial determination of the Incurred but Not Reported Claims Provision by the external actuaries and finalization of the external audit.

Accordingly, the expected level of profits could be subject to positive or negative adjustment.

Final audited results are expected to be announced to the SPSE on or before 31 st March, 2017.

source: SPSE

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