Kuwait - Al Ahleia Ins. records KWD 10m profit in 2019
Thursday, 03 12 2020, Category: Insurance and Reinsurance, Country: Kuwait
Al Ahleia Insurance reported higher annual profits by 7.9% in 2019 at KWD 10.24 million ($33.58 million) as compared to KWD 9.49 million ($31.13 million).
The growth in last year’s financials is attributed to higher operating revenues that were offset by increasing technical reserves, according to a stock exchange statement on Wednesday.
Over the fourth quarter of 2019, the profits reached KWD 2.39 million when compared to KWD 1.76 million in Q4-18, posting a 35.8% rise.
During its meeting, the board of directors recommended distributing cash dividends worth KWD 5 million or 25 fils per share for 2019, representing 25% of the share’s nominal value, in addition bonus shares of 10 million shares or five shares for every 100 shares, representing 5% of the capital.