Caribbean Assurance Brokers has reported a net loss of $98.5 million for the financial year ended December 31, a sharp reversal from the $123.5 million profit recorded in 2023.
Total revenues dipped slightly to $539 million compared with $543 million in 2023.
Administrative and other expenses ballooned to $416.6 million up from $280.3 million, while selling expenses climbed to $214.7 million compared to $133.4 million the previous year.
Finance costs also grew to $8.1 million contributing to the overall loss before taxation of $100.9 million.
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