Abu Dhabi-Mubasher: Insurance House (IH) posted a 20.9% decline in its losses year-on-year for the second quarter of 2016, according to a bourse statement.

Losses reached AED 2.2 million ($599,000) in Q2-16, compared to AED 2.78 million ($757,000) in Q2-15.

Net premiums grew 71% year-on-year to AED 30.59 million in Q2-16.

The company incurred losses of AED 1.89 million in H1-16, a rise of 67.5% from AED 5.81 million in H1-15.