Dubai – Mubasher: Islamic Arab Insurance Co (Salama) on Tuesday reported a 158.08% year-on-year jump in profits for the first nine months of 2018.

Net profit stood at AED 32 million in the period between January and September, compared to AED 12.4 million in the year-ago period, according to the company’s financial statement.

Gross written contributions rose by 32% to AED 793.2 million at the end of September, versus AED 601.9 million in the corresponding period of 2017.

Moreover, loss from discontinued operations totalled AED 64.5 million during the nine-month period ended September.

It is worth noting that Salama incurred losses of AED 700,000 during the third quarter of this year, against AED 7.2 million in profits in Q3-17.