Abu Dhabi – Mubasher: Union Insurance Company has registered accumulated losses worth AED 117.86 million as of 30 June 2022.

The accumulated losses’ value accounted for 35.60% of the AED 330.93 million capital, according to a recent bourse filing.

During the first half (H1) of 2022, the UAE-based firm reported net profits of AED 16.32 million, a drop from AED 23.81 million in the year-ago period.

The basic earnings per share (EPS) declined to AED 0.049 in H1-22 from AED 0.072 in H1-21.

Meanwhile, the total assets of Union Insurance amounted to AED 1.84 billion in January-June 2022.