Middlesea Insurance plc- Preliminary Financial Statements for the year ended 31 December 2012

The Board of Directors of Middlesea Insurance p.l.c. has approved the audited fiancial statements for the financial year ended 31 December 2012. The Board resolved that these audited financial statements be submitted for the approval of the Shareholders at the forthcoming Annual General Meeting (AGM) scheduled for Friday 19th April 2013.

The Board of Directors has recommended, for the approval of the AGM, the payment of a final net dividend of EUR 1,745,000 equivalent to a gross dividend of EUR 0.025 per share. The final dividend, if approved at the AGM, will be paid on the 17th May 2013 to the Shareholders on the Company's share register at the Central Securities Depository of the Malta Stock Exchange at the close of business as at the 22nd April 2013.

The Group registered a profit before tax of EUR 17,981,000, compared to EUR 3,110,000 registered in 2011. Total income from insurance activities for the period under review amounted to EUR 14,790,000, a rise of 201% from 2011. EPS increased to just over EUR 0.10.

To view the official company announcement, click here.