Dubai-Mubasher: Salama Cooperative Insurance posted a 397.7% increase year-on-year in its losses during the second quarter of 2016, according to a bourse statement.
Net losses stood at AED 155.89 million ($42.44 million) in Q2-16, compared to AED 31.32 million ($8.53 million) in Q2-15.
Claims incurred rose 98.6% to AED 334.9 million in Q2-16, compared to AED 289.12 million in Q2-15.
In H1-16, net losses grew 46.4% to AED 64.19 million from AED 43.84 million in H1-15.
