Kuwait - Gulf Ins. reports KD 8.1 million net profit in H1
Wednesday, 08 07 2019, Category: Insurance and Reinsurance, Country: Kuwait
Gulf Insurance Group (GIG) announced a net profit of KD 8.1 million ($ 26.7 million) for the first half of 2019, with a profit of 45.32 films per share, compared to a net profit of 6.6 KD million ($ 21.7 million) for the same period last year, which is an increase of KD 1.5 million ($ 5 million), or 23.2%, due to improved technical results and investment profits of companies from the Group.
The capital stock amounts to 90.9 million KD. ($ 299.6 million) as of June 30, 2006 The book value per share at the end of the first half of this year was 508 documents compared to 498 at the end of 2018, an increase of 2%.
Written premiums totaled KD 173.1 million ($ 570.6 million), up 3% from KD 168.1 million ($ 554 million) in the same period last year.
Profit from investments and other revenue was 6.9 million dinars ($ 22.6 million) compared to 5.5 million dinars ($ 18.1 million) for the same period last year, an increase of 24.8 percent.
Total assets in the first half of 2019 rose to 644.7 million dinars ($ 2.13 billion), an increase of 77.6 million dinars ($ 255.7 million), or 13.7% for the year ended 31 December / 12/2018.
Gulf Insurance Group CEO Khalid Saud Al Hassan said: "The results for the first half of this year reflect the continued growth of the Group, its ability to protect assets and equity, and its continued commitment to providing the best insurance services to its customers.