Abu Dhabi-Mubasher: Sharjah Insurance Co. posted a 84% profit plunge to AED 2.32 million in the first nine months of 2015, compared to AED 14.8 million in the same period of 2014, according to a bourse filing on Wednesday.

Sharjah incurred losses worth AED 7 million in Q3-15, against gains of AED 2.03 million in Q3-14.

Premium income dropped to AED 25.5 million in the nine-month period from AED 27.74 million.

The company posted net profits of AED 9.3 million ($2.53 million) in the first half of 2015, compared to AED 12.76 million ($3.5 million).