Dubai-Mubasher: National General Insurance (NGI) reported a 67.7% decline year-on-year in its profits during the second quarter of 2016, according to a bourse statement.

Profits stood at AED 4.92 million ($1.34 million) in Q2-16, compared to AED 15.21 million ($4.14 million) in Q2-15.

Net premiums decreased 28% to AED 53.7 million in Q2-16, compared to AED 89.25 million in Q2-15.

Dubai-listed insurer posted profits of AED 11.29 million in H1-16, a 66.9% decline from AED 34.09 million in H1-15.