Abu Dhabi – Mubasher: Green Crescent Insurance Company (GCIC) posted a sharp rise in its losses for the first half of 2015 to AED 5.09 million ($1.4 million) compared to AED 184,000 ($50,000) in the H1-14, according to a filing to the Abu Dhabi Securities Exchange (ADX) on Monday.

Meanwhile, losses for Q2 dropped 55% to AED 3 million, compared to AED 6.5 million in Q2-14.

The insurance firm previously posted a net loss of AED 2.16 million in Q1-15 against a net profit of AED 6.3 million in the same period in 2014.