Mubasher: Al Ahlia Insurance posted 90% decline in net earnings for the fourth quarter of 2015.
The net profits reached BHD 37,300 ($98,230) during the three months ended 31 December 2015, compared to BHD 376,000 ($990,250) in Q4-14.
The insurer lost BHD 622,690 in 2015, against BHD 1.69 million profit a year earlier.
The gross written premiums rose to BHD 10.92 million by the end of 2015, compared to BHD 10.78 million in the previous year.
General Manager Fadi El Khatib said that the negative shift in 2015 results was due to book losses at BHD 1.22 million, which forced the company to sit a side reserves at BHD 2.03 million to overcome declines, according to a statement posted on the bourse website.
