Abu Dhabi – Mubasher: Green Crescent Insurance Company (GCIC), listed on the Abu Dhabi Securities Exchange (ADX), announced turning to profit for the year ended 2014 compared to losses incurred in 2013.

GCIC reported a net profit of AED 40,000 ($11,000) in 2014 against a net loss of AED 4.65 million ($1.27 million) the year before.

Earnings per share (EPS) reached AED 0.0004 against a loss per share (LPS) of AED 0.047 in 2013.

Green Insurance’s revenue reached AED 72.34 million in 2014 against AED 115.8 million a year earlier.

Financials for the first nine months of 2014 showed a net profit of AED 1.78 million against AED 2.52 million in the same period in 2013, registering a 29.5% decline.

GCIC’s capital amounts to AED 100 million divided on 100 million shares at par value AED 1 per share.