Dubai – Mubasher: Dubai Insurance Company reported a decline in its profits by 38.1% year-on-year during the first quarter of 2017, according to a bourse filing.

Profits reached AED 13.93 million ($3.79 million) in Q1-17, compared to AED 22.49 million ($6.12 million) in Q1-16.

Total income stood at AED 45.61 million in Q1-17, up 19.1% from AED 38.3 million in Q1-16.

Total expenses increased 19.6% to AED 34.61 million in Q1-17, compared to AED 28.93 million in Q1-16.