Dubai – Mubasher: The net profits of Dubai Insurance Company declined to AED 33 million during the first half (H1) of 2020 from AED 43.4 million in the same period of 2019.
The company's net underwriting income decreased to AED 24.31 million in the first six months of 2020, compared to AED 32.27 million in the corresponding months in 2019, as shown by the company's consolidated interim financial results for the period ended on 30 June 2020.
Meanwhile, the company recorded the net insurance premium revenue of AED 63.49 million in H1-20, compared to AED 84.88 million in H1-19.
The basic and diluted earnings per share (EPS) stood at AED 0.33 in the January-June period of 2020, versus AED 0.12 in the same period of the earlier year.
During the second quarter (Q2) of 2020, the company's net profits retreated to AED 10.85 million from AED 18.99 million in the same quarter of the year before.
It is noteworthy to mention that in the first quarter (Q1) of 2020, the company reported net profits of AED 22.149 million, down from AED 24.41 million in the same period of 2019.