Abu Dhabi-Mubasher: Al Fujairah National Insurance Co. posted a significant drop in profits by 45% to AED 8.30 million ($2.26 million) in the first nine months of 2015, compared to AED 15.2 million in the corresponding of 2014, according to a bourse filing on Thursday.
Profits declined to AED 548,385 in Q3-15 from AED 11.26 million in Q3-14 on the back of suffering investments losses worth AED 1.47 million.
Premium income fell to AED 84.65 million in the nine-month period from AED 88.85 million.
The company reported a 98.74% profit surge to AED 7.75 million ($2.11 million) in the first half of 2015, compared to AED 3.9 million ($1.06 million) in the same period of 2014.
