Aman's net profits decrease in Q1

The company's net takaful income decreased

Dubai – Mubasher: The net profits attributable to the shareholders of Dubai Islamic Insurance and Reinsurance Company (Aman) declined to AED 3.19 million during the first quarter (Q1) of 2020, compared to AED 4.49 million in the same period of 2019.

The company's net takaful income decreased to AED 13.482 million in Q1-20 from AED 18.578 million during the year-ago period, according to the company's interim consolidated financial results for the period ended on 31 March 2020.

Meanwhile, the earnings per share (EPS) stood at AED 0.014 in the first three months of 2020, compared to AED 0.020 in the corresponding period of 2019.

The company incurred accumulated losses of AED 99.46 million, representing 44% of the capital, due to the negative effects from subsidiaries in previous years.

In 2019, the company's net profits jumped by 550% to AED 9.62 million, compared to AED 1.48 million in 2018.

Source: Mubasher

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