Dubai – Mubasher: Dubai Islamic Insurance and Reinsurance Company (AMAN) on Wednesday reported a 36% year-on-year drop in its profits for the first quarter of 2018.

Net profits amounted to AED 1.5 million in Q1-18, compared to AED 1.1 million in Q1-17, according to the company’s statement to the Dubai Financial Market (DFM).

Earnings per share (EPS) reached AED 0.7 for the three-month period ended 31 March 2018, versus AED 0.5 in the comparative period of 2017.

It is worth noting that the UAE-based insurance company turned a profit during the full-year 2017, generating AED 9.5 million, against a loss of AED 19.7 million a year earlier.