Mubasher: Gulf Insurance Group reported a decline of 27.6% in profits during the second quarter of 2017 compared to the same quarter a year ago.
Earnings decreased to KWD 2.77 million ($9.15 million) in Q2-17 from KWD 3.83 million ($12.65 million) in Q2-16, according to a bourse statement issued on Monday.
During the first six months of 2017, the company’s profits shrank by 21.6% to KWD 5.59 million from KWD 7.13 million in the first half of 2016.
In Q1-17, Gulf Insurance posted a decline of 14.6% in profits to KWD 2.82 million from KWD 3.3 million in Q1-16.
