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20 April 06:36 PM

Sector News

Warba Insurance said that it sold 100,000 shares in Al Arabia Co for KWD 502,500
9 April 2018 04:17 PM Stake sale in Al Arabia Co meets cost price - Warba Insurance
Mubasher: Kuwait-based Warba Insurance on Monday announced it had completed the sale of its entire stake in Al Arabia Company for Real Estate Development at cost price. Accordingly, the sale transaction did not lead to achieving profits or losses, …
Companies Investments
Warba sold 100,000 shares in Al Arabia Co. for KWD 502,500
8 April 2018 04:41 PM Warba Insurance sells stake in Al Arabia Co. at $1.7m
Mubasher: Warba Insurance on Sunday announced the sale of its entire stake in Al Arabia Company for Real Estate Development. The insurance company sold 100,000 shares in Al Arabia Co. for KWD 502,500 ($1.7 million) to Bukhamseen Holding, according …
Mergers and Acquisitions
The bonus shares will be distributed on 13 May
4 April 2018 04:14 PM Kuwait Reinsurance nods to 10% bonus shares for FY17
Mubasher: The ordinary general meeting (OGM) of Kuwait Reinsurance has approved the board’s recommendation to distribute 10% of the capital as a bonus share for fiscal year 2017. Kuwait Reinsurance will distribute 10-for-100 shares as bonus shares …
Cash Dividends
Losses from investments have affected FY17 financials
3 April 2018 03:55 PM Warba Insurance Q4 financials turn profitable
Mubasher: Warba Insurance achieved a profit of KWD 2.21 million ($7.4 million) in the fourth quarter of 2017 against loss of KWD 2.77 million ($9.3 million) in the same period a year ago. During fiscal year 2017, the insurance company incurred a …
Financial Results
The dividends will be distributed on 19 April
27 March 2018 02:30 PM Al Ahleia Insurance nods to 35% dividends for FY17
Mubasher: The ordinary general meeting (OGM) of Al Ahleia Insurance approved the board’s recommendation to distribute 35% of capital as a cash dividend for fiscal year 2017. Al Ahleia will pay 35 fils per share at a total value of KWD 6.88 …
General Assembly
The board members of First Takaful recommended zero dividends
20 March 2018 04:57 PM First Takaful incurs losses in Q4; profits up 12% in FY17
Mubasher: First Takaful Insurance incurred a loss of KWD 1.12 million ($3.74 million) during the fourth quarter of 2017 against profits worth KWD 118,000 ($394,000) in the same period a year ago. During the fiscal year 2017, First Takaful achieved …
Cash Dividends
The dividends are expected to be distributed on 11 April
14 March 2018 03:38 PM Kuwait Insurance nods to 25 fils/shr dividends for FY17
Mubasher: The ordinary general meeting (OGM) of Kuwait Insurance approved the board’s recommendation to distribute 25% of capital as a cash dividend for fiscal year 2017. The insurance services provider plans to pay 25 fils per share as dividends …
Cash Dividends
The dividends will hold an ex-dividend date on 19 April
11 March 2018 00:39 PM Gulf Insurance to consider 30% dividends end March
Mubasher: Gulf Insurance Group will hold its ordinary general meeting (OGM) on 29 March to discuss the board’s recommendation of distributing 30% cash dividends for the fiscal year 2017. The group’s board has proposed paying 30 fils per share as …
Financial Results
First Takaful has investments in stocks listed on Boursa Kuwait
22 February 2018 09:20 AM First Takaful invests GBP 2m in London – CEO
Mubasher: The investment portfolio of First Takaful Insurance exists in the UK, Turkey, and Kuwait, the CEO of First Takaful, Hussain Attal, told CNBC Arabiya on Wednesday. First Takaful currently has investments with a local company in London at …
Companies Investments
Al Ahleia Insurance recommended a cash dividend of 35%
20 February 2018 10:06 AM Al Ahleia Insurance posts lower profits in FY17; dividends proposed
Mubasher: Al Ahleia Insurance posted a drop of 47% in profits during the fourth quarter of 2017 compared to the same period in the prior year. Earnings shrank to KWD 1.52 million ($5.1 million) in Q4-17 from KWD 2.87 million ($9.6 million) in …
Cash Dividends
Profits shrank by 90% to approximately KWD 90,030 in FY17
19 February 2018 04:02 PM Wethaq Insurance FY17 profits plunge 90%
Mubasher: Wethaq Takaful Insurance incurred a loss of about KWD 66,570 ($222,910) in the fourth quarter of 2017 against profits worth nearly KWD 228,510 ($765,150) in the same quarter in 2016. During fiscal year 2017, profits shrank by 90% to …
Financial Results
The group’s premiums value registered a growth of 42.9% in FY17
18 February 2018 03:42 PM Gulf Insurance FY17 profits decline 14%; dividends proposed
Mubasher: Gulf Insurance Group reported a drop of 14.3% in profits during fiscal year 2017 compared to the previous fiscal year. Earnings decreased to KWD 10.3 million ($34.5 million) in FY16 from KWD 12 million ($40.2 million) in FY16, according …
Cash Dividends
Kuwait Insurance’s board recommended a cash dividend of 25%
15 February 2018 03:23 PM Kuwait Insurance turns profitable in FY17; dividends proposed
Mubasher: Kuwait Insurance achieved a leap of 506% in profits during the fourth quarter of 2017 compared to the corresponding period in 2016. Earnings surged to KWD 866,000 ($2.9 million) in Q4-17 from nearly KWD 142,900 ($477,500) in Q4-16, …
Financial Results
The growth in FY17 profits is attributed to an increase in premiums
15 February 2018 10:15 AM Kuwait Reinsurance FY17 profits grow 57%; bonus proposed
Mubasher: Kuwait Reinsurance reported a plunge of 83.8% in profits during the fourth quarter of 2017 compared to the same period in the 2016 fiscal year. Earnings shrank to KWD 279,000 ($932,250) in Q4-17 from KWD 1.72 million ($5.75 million) in …
Board of Directors
The increase in profits is attributed to a higher return on investment
13 November 2017 05:09 PM Al Ahleia Insurance posts KWD 2.29m profit in Q3
Mubasher: Al Ahleia Insurance achieved a surge of 398.9% in profits to KWD 2.29 million ($7.58 million) in the third quarter of 2017 compared to KWD 459,000 ($1.52 million) in the same period last year. During the nine-month period of 2017, …
Financial Results
Quarterly profits reached KWD 622,000
6 November 2017 04:52 PM First Takaful Q3 profits up 369%
Mubasher: First Takaful Insurance (FTI) posted on Monday an increase in profits for the third quarter of the year by 369.4%, as shown by the company’s financial results. Profits reached KWD 622,000 ($2.06 million) in Q3-17, compared to around KWD …
Financial Results
Total assets slightly decreased by 0.1% to KWD 81.91 million in Q2-17
19 October 2017 09:40 AM Warba Insurance incurs losses in Q2 on lower premiums
Mubasher: Warba Insurance Company has suffered a loss of KWD 3.1 million during the second quarter ended on 30 June 2017, against profits worth KWD 2.2 million in the corresponding period in 2016. The insurance company registered a loss per share …
Financial Results
This rating reflects Gulf Insurance’s strong and leading position
20 August 2017 03:48 PM Moody’s affirms Gulf Insurance IFSR
Mubasher: Moody's Investors Service has affirmed Gulf Insurance Group’s insurance financial strength rating (IFSR) at “A3”, with a “Stable” outlook. Moody’s said that this rating reflects Gulf Insurance’s strong and leading position in repaying …
Ratings
The company posted a decline of 16.1% in profits in H1-17
10 August 2017 05:19 PM Al Ahleia Insurance Q2 profits fall 18.3%
Mubasher: Al Ahleia Insurance reported a decline of 18.3% in profits to KWD 1.92 million ($6.37 million) in the second quarter this year compared to KWD 2.35 million ($7.79 million) in the same period in 2016. During the first six months of 2017, …
Financial Results
Kuwait Insurance reported a growth of 28.6% in profits in Q1-17
9 August 2017 05:00 PM Kuwait Insurance Q2 financials turn profitable
Mubasher: Kuwait Insurance achieved a profit of KWD 2.02 million ($6.68 million) in the second quarter of 2017 against a loss of KWD 4.53 million ($14.98 million) in the same period a year ago. During the first six months of 2017, the company …
Financial Results
Alaiban is a representative of Arzan Financial Group for Financing and Investment
7 August 2017 01:02 PM First Takaful names new chairman
Mubasher: First Takaful Insurance on 6 August has modified its board structure, appointing Hamed Mohamed Alaiban as its new chairman. Alaiban was named as a representative of Arzan Financial Group for Financing and Investment, according to a …
Board of Directors
First Takaful's stock closed Tuesday’s session 5.37% higher
1 August 2017 04:02 PM First Takaful Q2 profits up 53.45%
Mubasher: First Takaful Insurance achieved a growth of 53.45% in profits to about KWD 753,970 ($2.49 million) in the second quarter of 2017 compared to nearly KWD 491,350 ($1.62 million) in Q2-16. During the first six months of 2017, First Takaful …
Financial Results
Earnings decreased to KWD 2.77 million ($9.15 million) in Q2-17
24 July 2017 04:42 PM Gulf Insurance Q2 profits down 27.6%
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) …
Financial Results
This rating reflects the company’s regional excellent business
20 June 2017 11:42 AM AM Best affirms Gulf Insurance credit rating
Kuwait – Mubasher: AM Best has affirmed the credit rating of Gulf Insurance Group at “A” with a “Stable” outlook. This rating reflects the company’s regional excellent business as well as the good capital adequacy and continuous profitability, …
Ratings
Warba Insurance registered a decline in underwriting profit
15 June 2017 11:51 AM Warba Insurance Q1 profits shrink 24.3%
Kuwait – Mubasher: Warba Insurance posted a decline of 24.3% in profits during the first quarter of 2017 as compared to the same period a year ago. The profits shrank to KWD 1.12 million ($3.69 million) in Q1-17 from KWD 1.48 million ($4.87 …
Financial Results