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UAE’s SALAMA 6M losses widen by 194%

UAE’s SALAMA 6M losses widen by 194%
Photo Credit: Arabianeye-Reuters
SALAMA
SALAMA
-1.61% 0.37 -0.01

 

Dubai – Mubasher: Islamic Arab Insurance Co. (SALAMA) reported a 194% surge in its net loss for the first half of 2015 reached AED 31.3 million, compared to AED 10.66 million in the same period of 2014.

At the level of the second quarter, the insurance firm posted a net loss of AED 43.8 million against a net profit of AED 8.4 million in Q2-14, according to a filing to the Dubai Financial Market (DFM) on Sunday.

Results for Q1 previously showed a net profit of AED 12.5 million against a net loss of AED 19 million in Q1-14.