Abu Dhabi - Mubasher: The financial statements of Al Buhaira National Insurance Company showed a surge in profits in the fourth quarter of 2016 by 293.09% year-on-year.

Profits totalled AED 12.07 million ($3.29 million) in Q4-16 compared to AED 3.07 million ($835,680) in Q4-15, according to the company’s statement to the Abu Dhabi Securities Exchange (ADX) on Tuesday.

Al Buhaira also reported a growth in total annual profits by 69.09% in 2016 to AED 57.73 million up from AED 34.14 million in 2015.