Dubai – Mubasher: Orient Insurance reported a 10% rise in its net profits for the first quarter of the year, reaching AED 120.3 million ($32.75 million) compared to AED 109.5 million ($29.8 million) during the same period in 2014, the company said in a filing to the Dubai Financial Market (DFM) on Tuesday.

The company previously reported 5% growth in its annual profits, reaching AED 252 million in 2014 compared to AED 240 million in 2013. Its shareholders approved on 25 February a 20% cash dividend, totalling AED 100 million for 2014.

Orient’s capital amounts to AED 500 million, divided on 5 million shares at par value of AED 100 per share.