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FINANCIAL NEWS
Dubai- Al Sagr Insurance Firm net profit drops by USD 28.57mn
31 Mar 2016
(MENAFN) Al Sagr National Insurance Co. net profit dropped last year, due to lower investment income, which reached USD 28.57mn.
On the other hand, the firm income dropped by USD 10.56mn in 2014, as the industry struggles to overcome competitive pressures.
In addition, the net investments loss touched USD 33.01mn compared to a net profit of USD 7.7mn a year earlier, while gross premiums fell 1.3 percent.
However, net underwriting profit increased 28.4 percent to USD 17.85mn from USD 13.91mn a year earlier.
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