Dubai – Mubasher: Dubai Islamic Insurance and Reinsurance Company (Aman) on Wednesday announced the closing of a deal to sell its 10% stake in Kuwait’s Boubyan Takaful Insurance Company, according to a filing to the Dubai Financial Market (DFM).

In June, Aman’s CEO stated that the company would focus on modifying insurance rates, reducing administrative expenses, and increasing life insurance policies.

The company reported turning a profit with AED 1.52 million ($413,000) in the second quarter of 2017 against losses in the year-ago period.