Abu Dhabi – Mubasher: Green Crescent Insurance Company (GCIC) posted net losses of AED 2.16 million ($588,000) in the first quarter of the year, against net profits of AED 6.3 million ($1.7 million) during the same period in 2014, according to its filing to the Abu Dhabi Securities Exchange (ADX) .

GCIC previously reported an annual net profit of AED 40,000 in 2014 against losses of AED 4.65 million in 2013.

Established in 2008, GCIC offers healthcare and life insurance services.