Dubai-Mubasher: The preliminary financial statements of UAE’s Arabian Scandinavian Insurance reported losses in the fourth quarter of 2015 against earnings in the same quarter of 2014.
The company said in a bourse statement that net losses reached AED 1.06 million ($283,000) in Q4-15, against profits worth AED 25.07 million ($6.83 million) in Q4-14.
Arabian Scandinavian achieved net profit worth AED 14.7 million during the fiscal year 2015 as compared to AED 31.1 million in FY14; a decrease of 53%.
The insurance company posted revenues worth AED 100.3 million in FY15, compared to AED 84.5 million in FY14.
