Abnic, net result decreased by 41% in 2013

The net profit of Al Buhaira National Insurance Company (Abnic) has declined in 2013 by 41% to 10 million AED (2.7 million USD).

Premiums is reduced by 7% to 520 million AED (141.6 million USD), while total assets has increased by 6.6% to 1.95 billion AED (531 million USD).

Results that the UAE's insurer considers acceptable given the tariff competition being waged between insurance companies, newcomers in front.