Mubasher: Al Dhafra Insurance Company reported a decrease of 96.6% in losses during the fourth quarter of 2016 as compared to the same period a year ago.
Losses shrank to AED 2.8 million ($762,110) in Q4-16 from AED 81.9 million ($22.3 million) in Q4-15, according to a bourse statement issued on Tuesday.
The company achieved a profit of AED 23.81 million during the fiscal year of 2016 against losses of AED 81.7 million in FY15.
Operating profit stood at AED 29.3 million in FY16 versus operating losses of AED 64.02 million.
