Abu Dhabi – Mubasher: Sharjah Insurance Co said its net profits doubled in the second quarter of 2017, according to a statement.

Net profits reached AED 8.3 million ($2.26 million) in Q2-17, compared to AED 4 million ($1.08 million) in Q2-16.

The rise in profits is mainly attributed to an increase in investment revenues by 31% to AED 7.63 million in the first half of 2017.

The company turned profitable after generating AED 18 million in H1-17, against losses of AED 3 million in H1-16.

Net insurance premiums fell 18% to AED 6.06 million in H1-17, compared to AED 7.4 million in H1-16.