Iron Rock reports lower losses for Q1 2020 supported by non-core Income

  • Iron Rock Insurance reported unaudited net loss of $2.81Mn (EPS:-$0.01) for the three months ended March 31, 2020. This represents a  71.1% (or $6.92Mn) reduction from the $9.73Mn net loss that was reported one year prior.
  • The main drivers of this outcome was a 161.0% (or $12.49Mn) increase in other income due to improvements in investment income, gains from sale of investment and foreign exchange gains.. 
  • The stock has fallen 38.73% since the start of the calendar year and closed Tuesday’s trading session at $2.16.  At this price the company’s stock currently trades at a P/B of 0.88x  which is below the Junior Market Financial Sector Average of 2.72x.

(Source: Iron Rock Financials)