Dubai-Mubasher: Oman Insurance Company (OIC) saw a decrease by 48.9% in its quarterly profits, according to a bourse statement.
Profits stood at AED 22.43 million ($6.11 million) in Q1-16, compared to AED 43.89 million ($11.95 million) in Q1-15.
Earnings per share (EPS) reached AED 0.05 ($0.01) in Q1-16, compared to AED 0.10 ($0.03) in Q1-15.
Net earned insurance premium declined to AED 335.6 million ($91.37 million) during the period, compared to AED 359.58 million ($97.89 million).
