Abu Dhabi - Mubasher: Green Crescent Insurance said Thursday it turned to loss in the January-September period this year, reaching AED 9.4 million against AED 1.78 million in the same period last year.

The loss was caused by a fall in the company’s net income from investment and insurance, according to the company’s financial statement.

Investment income slipped by 95% to AED 774,000 from AED 15 million last year, while the insurance income plummeted by 11% to AED 8.1 million.

The company earlier posted a net loss of AED 5.09 million ($1.4 million) in H1-15, compared to AED 184,000 ($50,000) in the same period last year.

The losses shrank in the second quarter this year to about AED 3 million, versus AED 6.5 million in the second quarter last year.

The first-quarter financials for the year showed a net loss of AED 2.16 million, against AED 6.3 million last year.