Mubasher: Arab Orient Insurance announced that the profits for the fourth quarter of 2015 dropped 39.46% to JOD1.07 million ($1.51 million), from JOD1.77 million ($2.49 million) in 2014.

The company’s FY15 net profit also fell 12.95% year-over-year from JOD5.02 million ($7.06 million) to JOD4.37 million ($6.15 million).

The board of directors recommended distributing cash dividends at JOD 3.22 million, or 15% of capital.

During the first nine months of FY15, the company’s profit rose by1.71% to JOD3.3 million ($4.64 million), compared to JOD3.25 million ($4.57 million) the year-ago period.