Dubai-Mubasher: Salama Cooperative Insurance suffered losses in the first quarter of 2016, according to a bourse statement.
Net losses reached AED 97.6 million ($26.6 million) in Q1-16, against net profits of AED 9.4 million ($2.56 million) in Q1-15.
Claims incurred rose 178.5% to AED 193.38 million ($52.65 million) in Q1-16, compared to AED 69.44 million ($18.90 million) in Q1-15.
