Dubai – Mubasher: Al-Sagr National Insurance Company (ASNIC) announced a net profit growth of 10.4% for the group in 2014, compared to figures from 2013.

ASNIC reported a net profit of AED 56.1 million ($15.27 million) in 2014 compared to AED 50.8 million ($13.8 million) the year before, according to a filing to the Dubai Financial Market (DFM) on Thursday.

Earnings per share (EPS) grew to AED 0.24 against AED 0.23 in 2013.

The mother company’s profits rose to AED 55.7 million in 2014 compared to AED 53.56 million in 2013.

Insurance profits increased to AED 68.44 million in 2014 compared to AED 63 million a year earlier.

ASNIC previously reported a 431.6% leap in its net profits for the first nine months of 2014, reaching AED 131.2 million against AED 24.7 million during the same period in 2013.

ASNIC’s capital amounts to AED 230 million divided on 230 million shares at par value of AED 1 per share.