Abu Dhabi – Mubasher: Emirates Insurance Company (EIC) posted a 23.7% year-on-year decline in its profits in the first quarter of 2017.
Profits reached AED 29.36 million ($8 million) in Q1-17, compared to AED 38.46 million ($10.47 million) in Q1-16.
Investment income fell 31% to AED 23.86 million in Q1-17 from AED 34.56 million.
Operating expenses amounted to AED 20.77 million in Q1-17, up 16.8% to AED 17.79 million in Q1-16.
