Abu Dhabi-Mubasher: National Takaful Company’s (Watania) losses shrank 86.53% in the first quarter as compared to the corresponding period in 2015, the company said in a bourse filing.

Watania’s losses decreased to AED 496,000 ($135,040) in Q1-16, from AED 3.68 million ($1 million) in Q1-15.

Losses from takaful transactions narrowed by 39.4% to AED 4.53 million, the company added.