Mubasher: Qatar General Insurance and Reinsurance Company (QGRIC) posted a 68.2% year-on-year drop in its losses for the second quarter of 2018.

Net losses amounted to QAR 1.07 million ($296,740) in Q2-18, compared to QAR 3.36 million ($931,820) in Q2-17, according to the company’s statement to the Qatar Stock Exchange (QSE) issued late on Tuesday.

During the first half of 2018, net profits of the Qatari insurance company grew 36.1% to QAR 54.03 million, from QAR 39.69 million in H1-17.

Earnings per share (EPS) recorded QAR 0.62 for the six-months period ended June, versus QAR 0.45 in the same period of the previous year.

It is worth noting that QGRIC’s profits grew 28.1% year-on-year to QAR 55.1 million in Q1-18.