Dubai – Mubasher: Dubai Insurance Company reported net profits of AED 22.149 million during the first quarter (Q1) of 2020, down from AED 24.41 million in the same period of 2019.

The company's net underwriting income declined to AED 19.50 million in Q1-20 from AED 17.98 million in the same quarter of 2019, according to the company's unaudited consolidated interim financial statements for the period ended on 31 March 2020.

The basic and diluted earnings per share (EPS) settled at AED 0.22 in the first three months of 2020, versus AED 0.24 in the corresponding period of the previous year.

It is worthy to mention that in 2019, the company's net profits reached AED 75.64 million, from AED 50.50 million in 2018.