Kuwait-Mubasher: Gulf Insurance Group registered profits worth KWD 3.3 million ($10.9 million) in the first quarter of 2016, 10.8% lower from KWD 3.7 million ($12.3 million) in Q1-15, according to a statement.
Revenues from subscription reached KWD 4.5 million ($14.99 million) in Q1-16, with a 24.7% growth when compared to Q1-15.
Shareholders’ equity increased by 1.15% to KWD 83.42 million ($277.82 million).
Similarly, premiums rose by 10.8% to KWD 60.12 million ($200.22 million) as compared to KWD 54.3 million ($180.84 million) in Q1-15.
Gulf Insurance’s book value stood at 466 fils in Q1-16, from 460 fils in Q1-15.
Total assets reached KWD 373.23 million ($1.24 billion) in Q1-16, 1.3% higher from the same quarter of 2015.
