Abu Dhabi – Mubasher: Emirates Insurance Company (EIC) posted a 9.6% decline in its net profits for the first six months of 2015 to AED 82.63 million ($22.5 million) compared to AED 89.4 million ($24.3 million) in the same period last year, according to a filing to the Abu Dhabi Securities Exchange (ADX).

EIC’s net profits for the second quarter stood at AED 23.3 million, registering a drop of 42.3% from AED 40.4 million in Q2-14.

The company previously reported a net profit of AED 59.33 million in Q1-15, a rise of 21% from AED 49 million in the same period the year before.