Takaful Emarat, a life and health insurance provider, reported on Tuesday Dh691,172 in net profit for the first quarter of 2017, marking a near-80 per cent decline from the Dh3.3 million recorded in the same period of 2016.

In its statement, the company did not elaborate on where the decline came from.

Takaful contributions earned in the quarter went up 25 per cent year-on-year to reach Dh152.1 million from Dh121.9 million in the first quarter of 2016.