Abu Dhabi – Mubasher: United Insurance Company (UIC) has called for a shareholder meeting to discuss adjusting the company’s financial position and raising its capital, according to a filing to the Abu Dhabi Securities Exchange (ADX) on Thursday.
UIC reported a 22% decline in losses to AED 7 million ($1.9 million) in the first quarter of 2015 compared to a loss of AED 9 million ($2.45 million) in the same period in 2014.
The insurance firm previously said it suffered a massive loss of AED 51.8 million in the fiscal year 2014 against a net profit of AED 8.44 million in 2013.
