Kuwait – Mubasher: The insurance firms listed in the Kuwait Stock Exchange (KSE) saw an increase of 51.6% y-o-y in net profits for the fourth quarter of 2015.
KSE insurance sector’s companies saw net profits of KWD 6.23 million ($20.92 million) for the fourth quarter of 2015, compared with KWD 4.17 million ($13.8 million) for the similar period of the previous year.
Gulf Insurance Group Co. that reported net profits of KWD 2.85 million for Q4-2015 topped the sector’s profits, while Warba Insurance was the steepest as it posted net profits of KWD 26,000 and First Takaful was the only loser as it suffered losses of KWD 698,000.
As for 2015, KSE’s insurance sector saw an increase of 48.8% in net profits as they reached KWD 37.15 ($122.97 million) compared with KWD 24.97 million ($82.66 million) for the previous year.
