Dubai – Mubasher: Al Sagr National Insurance Company reported a turn to losses in the first nine months of 2015, against profitability in the same period last year.
The Dubai listed company’s financial statements showed a net loss of about AED 70 million ($19 million), versus a net profit of AED 131.2 million ($35.7 million) in the January-September period last year.
The company’s losses in the third quarter of 2015 reached AED 44.75 million, compared to a net profit of AED 46.9 million in the same period year ago.
Al Sagr earlier posted a net loss of AED 25.3 million ($6.9 million) in the first half of 2015, compared to AED 84.3 million ($23 million) in the same period last year.
