Abu Dhabi-Mubasher: United Insurance Company posted a 77.2% decline in its losses year-on-year during the second quarter of 2016, according to a bourse statement.
Net losses reached AED 2.18 million ($533,000) in Q2-16, compared to AED 9.57 million ($2.6 million) in Q2-15.
Insurance expenses declined 64% year-on-year to stand at AED 11.31 million in Q2-16.
The company’s losses declined 83.4% to AED 2.76 million in H1-16, compared to AED 16.64 million in H1-15. Insurance expenses also retreated 51% year-on-year to reach AED 39.29 million in H1-16.
