Abu Dhabi – Mubasher: Al Khazna Insurance Co. (AKIC) reported a 57% drop in losses for 2014, down to AED 68.44 million ($18.63 million) from AED 162.87 million ($44.34 million) in 2013, according to the company’s filing to the Abu Dhabi Securities Exchange (ADX) on Sunday.
Operational profits retreated to AED 13 million against AED 16.43 million in 2013, whereas total income grew to AED 128 million in 2014 compared to AED 95.4 million in 2013.
AKIC previously reported a 37.5% decline in losses for the first nine months of 2014, reaching AED 62.4 million compared to a loss of AED 98.3 million in the same period the year before.
The company’s capital amounts to AED 420 million divided on 420 million shares at par value of AED 1 per share.
