Abu Dhabi – Mubasher: Al Wathba National Insurance Company (AWNIC) net profit declined by 83% in the first nine months of 2015, compared to the same period last year.
Profit slipped to AED 31.5 million ($8.5 million) down from AED 188.7 million ($51.5 million) last year, according to the company’s financial statements.
The statements also showed a loss of AED 16.6 million in Q3-15, versus a profit of AED 37.4 million in the same period last year.
Total revenue in 9M-15 came to AED 148.4 million this year, down from AED 197.6 million in 2015.
Earnings per share also plummeted to AED 0.15 in the above period from AED 0.91 in 2014.
