Dubai – Mubasher: Arab Insurance Group (ARIG) on Tuesday reported a 249% year-on-year profit hike during the first quarter of 2019, recording $1.753 million.

Net earned premiums went up to $55.74 million in Q1-19 versus $53.97 million in the year-ago period, according to a bourse statement.

Investment revenue of insurance portfolios increased to $7 million in the first three months of 2019.

ARIG incurred losses worth $55 million in the full-year 2018, against a profit of $7.22 million in 2017.