Abu Dhabi – Mubasher: United Insurance Company (UIC) narrowed its losses in the first quarter of 2015 by around 22% to AED 7 million ($1.9 million) from AED 9 million ($2.45 million) in the same period in 2014, the company said in a filing to the Abu Dhabi Securities Exchange (ADX) on Tuesday.

The insurance firm previously reported a net loss of AED 51.8 million in the fiscal year 2014 against a net profit of AED 8.44 million in 2013.