Profits of Bahrain Kuwait Insurance increase by 13% in 9m

Bahrain Kuwait Insurance Company B.S.C. (trading code in Bahrain Bourse “BKIC.BH” and in Boursa Kuwait “BKIKWT”) announced its consolidated financial results for the nine months ended 30thSeptember 2020.

The consolidated financial results for the three months ended 30thSeptember 2020 presented a net profit attributable to the shareholders of BD 0.778 million compared to BD 0.659 million for the same period last year, representing an increase of 18.1.%. Earnings per share during the 3rd quarter of current year were 5 fils, equivalent to the 3rd quarter of last year.

The total comprehensive income attributable to the shareholders reached BD 0.991 million in Q3-2020 compared to BD 1.01 million in 03-2019, registering a decrease of 1.8%. The company achieved 25% growth in gross premium revenue from BD 14.6 million in the 3rd quarter of last year to BD 18.2 million, in the 3rd quarter of current year. The underwriting profits increased by 47.3%, from BD 0.569 million, in the 3rd quarter of last year to BD 0.838 million in the 3rd quarter of current year. The net investment income increased by 64.1%, from BD 0.335 million in the 3rdquarter of last year to BD 0.550 million in the 3rdquarter of current year.

With regards to the consolidated financial results for the nine months ended 30thSeptember 2020, the company achieved a net profit attributable to the shareholders of BD 3.1 million, compared to BD 2.7 million of the same period last year, representing an increase of 13%. Earnings per share were 22 fils during the current period compared to 19 fils of the same period last year.

The total comprehensive income attributable to the shareholders reached BD 2.96 million during the current period compared to BD 3.05 million of the same period last year, registering a decrease of 3%.


Source: bizbahrain.com