Abu Dhabi – Mubasher: Al Buhaira National Insurance Co. (ABNIC) reported a 9.6% rise in its net profits for the first half of the year to AED 34 million, compared to AED 31 million in the same period in 2014, according to a filing to the Abu Dhabi Securities Exchange (ADX) on Thursday.
Gross written premiums rose to AED 329 million, from AED 293 million in H1-14, while operating profit increased to AED 21 million from AED 20 million in Q2-14.
As for Q2-15, the insurance firm posted a net profit of AED 10.68 million, up from AED 5.67 million in the same period last year.
ABNIC previously reported a 10% decline in its net profits for Q1-15 to AED 23 million ($6 million) compared to AED 25 million ($6.8 million).
