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Sharjah Insurance posts AED8.3mn profits in Q2
(MENAFN) Sharjah Insurance Co. proclaimed that its net profits doubled in the second quarter of the year, while net profits reached USD2.26mn in Q2, 2017.
In addition, the increase in profits is due to an increase in investment revenues by 31 percent to AED7.63mn in the Jan-June period of the year.
Meanwhile, the firm turned profitable after producing AED18mn in the first half of this year, against losses of AED3mn in H1, 2016.
However, net insurance premiums dropped 18 percent to AED6.06mn in the first half of the year, compared to AED7.4mn in H1, 2016.
In addition, the increase in profits is due to an increase in investment revenues by 31 percent to AED7.63mn in the Jan-June period of the year.
Meanwhile, the firm turned profitable after producing AED18mn in the first half of this year, against losses of AED3mn in H1, 2016.
However, net insurance premiums dropped 18 percent to AED6.06mn in the first half of the year, compared to AED7.4mn in H1, 2016.
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