Mubasher: Bahrain Kuwait Insurance posted a drop of 20.9% in profits during the fourth quarter of 2016 as compared to the same period a year ago.

Earnings shrank to BHD 757,000 ($1.9 million) in Q4-16 from BHD 957,000 ($2.4 million) in Q4-15, according to a bourse filing issued on Sunday.

During fiscal year 2016, profits rose by 5.5% to total BHD 2.857 million from BHD 2.707 million in FY15.

Earnings per share increased by 5.3% to reach 40 fils in FY16 from 38 fils in FY15.

Board members recommended 30% cash dividends for FY16 or 30 fils per share, as in the previous FY.