Back in the black. MNRB recorded a turnaround in 3QFY03/10 results with net profit of RM80.1m, bringing 9MFY03/10 earnings to RM54.4m, above our full year net profit forecast of RM12.7m. The key variance is higherthan- expected general reinsurance transfer, due to:
1) better claims experience; and
2) reversal of RM51.8m provision made in 1HFY10 for claims reserving.
MNRB Holdings Berhad : Stronger Earnings From Better Claims Experience and Reversal Of Provision - 01/03/2010
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