Al Khazna Insurance Company, listed on the Abu Dhabi Securities Exchange (ADX), reported incurring a massive loss of AED 44.44 million during the first half of 2014 compared to a loss of more than AED 11 million during H1-13, recording a surge in losses by 300%.

The company’s total income fell to AED 55 million, compared to AED 49 million during the same period last year, registering a 12.3% decline.

Total shareholders’ equity fell to AED 432 million compared to AED 478.6 million during the said period, registering a 9.7% drop.