Dubai – Mubasher: Dubai National Insurance and Reinsurance (DNIR) reported an 87% surge in its net profits for the first quarter of the year, reaching AED 20 million ($5.45 million), compared to AED 10.66 million ($2.9 million) in the same period in 2014.

Basic and diluted earnings per share (EPS) increased to AED 0.17 in Q1-15 from AED 0.09 in Q1-14, the company said in its filing to the Dubai Financial Market (DFM) on Thursday.

Insurance premiums grew to AED 25.44 million in the quarter, from AED 23.2 million in the corresponding period in 2014.

The insurance firm previously said it achieved AED 35.77 million in 2014, an 18.4% rise compared to figures from the year before.