Doha – Mubasher: Qatar General Insurance and Reinsurance Company on Monday reported a drop of 19.9% in its profits for the first quarter of 2017, compared to the same period of 2016.

Profits stood at QAR 43.05 million ($11.81 million) in Q1-17, compared to QAR 53.74 million ($14.75 million) in Q1-16, according to a filing to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) reached QAR 0.49 in Q1-17, compared to QAR 0.61 in the same period of the year before.

The insurance company had previously reported a slide of 76.33% in its profits to QAR 219.34 million in 2016, compared to QAR 925.71 million in 2015.