Dubai-Mubasher: Oman Insurance Company (OIC) posted net losses of AED 31 million ($8.44 million) in the fourth quarter of 2015, against net profits of AED 73.37 million ($20 million) in the corresponding quarter of 2014, according to a bourse filing on Tuesday.

In the fiscal year 2015, net profits plunged 64.6% to AED 81.2 million as compared to AED 229.37 million in the fiscal year 2014.