Dubai – Mubasher: Oman Insurance reported a 30.6% profit decrease in the third quarter of 2016, according the unaudited financial results.

The company earned AED 20.06 million ($5.5 million) in Q3, compared with AED 28.9 million ($7.9 million) for the year-ago period.

The company’s nine-month profits declined 30% year-on-year to AED 78.6 million from AED 112.23 million.

Net profit from the insurance activity fell to AED 78.6 million, down 30% year-on-year from AED 112.23 million.