Wethaq Takaful Insurance (WETHAQ) News - Mubasher Info
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09 March 08:41 AM

Wethaq Takaful Insurance (WETHAQ`R)

Last update: 8 March 01:29 PM market time.
79.90
41.80
109.71%
Open 85.90
Previous Close 38.10
High 85.90
Low 77.20
Stock Statistics
Volume 5,297
Turnover 420.03
All data are 15 minutes late during market session

News

S&P’s outlook upgrade was allocated based on the firm’s improving liquidity
7 October 2019 02:01 PM S&P affirms Wethaq Takaful’s rating at ‘B’; Outlook ‘Stable’
Mubasher: Standard & Poor's Ratings (S&P) affirmed the credit rating of Wethaq Takaful Insurance rating at ‘B’, while upgrading its outlook to ‘Stable’ from ‘Negative’. S&P’s outlook upgrade was allocated based on the firm’s improving liquidity, …
Company News
The amount would be added to the firm's liquidity
18 April 2019 05:03 PM Wethaq Insurance receives $6.48m from real estate fund
Mubasher: Wethaq Takaful Insurance has announced that it received KWD 1.97 million ($6.48 million) from a real estate fund, which is being liquefied. The received amount represents the company’s investment pumped into the fund, Wethaq said in a …
Companies Investments
The Kuwaiti insurance sector is in dire need of diversifying its products.
11 April 2019 01:01 PM Wethaq seeks to develop business; premiums grow 16% in 12M – Chairman
Mubasher: Wethaq Takaful Insurance will adopt a cautious strategy over the coming period to develop its business mechanism and boost reinsurance operations in a bid to protect the rights of shareholders and policyholders, the chairman of the …
Companies Investments
Earnings shrank to about KWD 86,400
28 February 2019 04:12 PM Wethaq Insurance FY18 profits decline 4%
Mubasher: Wethaq Takaful Insurance posted a decrease of 3.98% in profits during fiscal year 2018 compared to the prior year, according to a bourse disclosure on Thursday.  Earnings shrank to about KWD 86,400 ($1,000) in FY18 compared to KWD 90,000 …
Financial Results
Wethaq Takaful posted a decline of 75.5% in H1 profits
30 July 2018 03:02 PM Wethaq Takaful Q2 financials turn profitable
Mubasher: Wethaq Takaful Insurance achieved profits valued at nearly KWD 17,120 ($56,640) during the second quarter of 2018 against losses of nearly KWD 74,430 ($246,220) in the same period a year ago. During the first six months of 2018, Wethaq …
Financial Results
S&P Global downgraded Wethaq’s Outlook to “Negative”
14 June 2018 01:56 PM S&P downgrades Wethaq Takaful outlook
Mubasher: Wethaq Takaful Insurance announced that S&P Global has modified the company’s credit rating. S&P Global downgraded Wethaq’s Outlook to “Negative” from “Stable” while maintained its credit rating at “BB” for fiscal year 2017, according to …
Ratings
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
(Photo Credit: Arabianeye-Reuters)
28 March 2017 01:38 PM Kuwait insurance sector profits increase 0.11% in Q4
By: Eman Ghaly Kuwait – Mubasher: The financial statements of eight Kuwait-listed insurance companies revealed a 0.11% rise in the sector’s profits for the fourth quarter of 2016, compared to the same period in 2015. Profits reached KWD 6.153 …
Financial Results
Photo Credit: Arabianeye-Reuters
16 February 2017 11:20 AM Wethaq posts lower profits in Q4
Mubasher: Wethaq Takaful Insurance posted a decline of 17.5% in profits to about KWD 228,460 ($746,110) during the fourth quarter of 2016 as compared to nearly KWD 276,910 ($904,340) in the same quarter a year ago. During the fiscal year of 2016, …
Financial Results
S&P expected Wethaq to maintain the solid capital base (Photo Credit: Arabianeye-Reuters)
10 January 2017 10:24 AM Wethaq: S&P affirms credit rating at ‘BB’
Kuwait – Mubasher: Wethaq Takaful Insurance said that Standard & Poor's (S&P) has affirmed the company’s credit rating at ‘BB’ with a ‘Stable’ Outlook, according to a bourse statement issued on Tuesday. The company clarified that the outlook …
Ratings
Wethaq profits of KWD 152,800 ($504,570) in Q3-16 (Photo Credit: Arabianeye-Reuters)
3 November 2016 02:39 PM Wethaq Takaful swings to profits in Q3
Kuwait – Mubasher: Wethaq Takaful Insurance turned profitable in the third quarter of 2016, according to a bourse statement. The company posted profits of KWD 152,800 ($504,570) in Q3-16, against losses of KWD 961,640 ($3.18 million) in Q3-15. In …
Financial Results
net profit dropped 27.2% (Photo Credit: Arabianeye-Reuters)
1 November 2016 11:38 AM Wethaq to discuss financials early November
Kuwait – Mubasher: Wethaq Takaful Insurance will hold its board meeting on Thursday, 3 November, to overview the financial statements of the third quarter this year, according to a bourse statement issued Tuesday. During the second quarter of …
Financial Results
Photo Credit: Arabianeye-Reuters
26 April 2016 09:38 AM Wethaq’s Q1 profits decrease 8.91%
Kuwait-Mubasher: Wethaq Takaful Insurance’s profits decreased by 8.91% in the first quarter of 2016 as compared to the corresponding period in 2015, according to an issued statement. The company’s earnings reached nearly KWD 331,390 ($1.09 …
Financial Results
Photo Credit: Arabianeye-Reuters
31 March 2016 05:01 PM Wethaq Takaful Insurance to exit Wethaq Egypt
Kuwait-Mubasher: Wethaq Takaful Insurance’s board agreed on selling the company’s entire stake in Wethaq Egypt, said chairman Abdullah Al Saif. The Kuwaiti company clarified that the exit decision was due to the Egyptian market’s current trend and …
General Assembly
Photo Archive
22 February 2016 09:58 AM Wethaq moves to profitability in Q4
Kuwait – Mubasher: Wethaq Takaful Insurance Company reported on Monday a net profit of KWD 357,410 in the fourth quarter of 2015, versus net losses of KWD 80,680 in the same period of 2014. However, the company turned to losses of KWD 3,200 in …
Management Decisions
Photo Credit: Arabianeye-Reuters
26 October 2015 09:10 AM Wethaq 9M financials turn negative
Kuwait-Mubasher: Wethaq Takaful Insurance showed negative results for the nine-month period of 2015. The insurance company suffered losses worth about KWD 281,000 in 9M-15, against earnings worth approximately KWD 470,000 in 9M-14. Moreover, the …
Financial Results
Photo Credit: Arabianeye-Reuters
25 October 2015 10:43 AM Wethaq to discuss 9M financials Sunday
Kuwait-Mubasher: Wethaq Takaful Insurance will hold a board meeting on Sunday to consider the financial statements of the nine-month period ended 30 September, 2015. It is noteworthy that the Kuwaiti company achieved about KWD 680,000 net profit …
Event
Photo Credit: Arabianeye-Reuters
20 October 2015 11:59 AM Wethaq Takaful to consider 9M financials late Oct
Kuwait-Mubasher: Wethaq Takaful Insurance will hold a board meeting on 25 October to review the financial statements for the nine month ended 30 September, 2015. The Kuwaiti firm achieved a net profit worth about KWD 680,000 in the first half of …
Event
Photo Credit: Arabianeye-Reuters
30 August 2015 04:03 PM Kuwait puts retiree insurance out to tender
The Kuwait’s central tenders committee has launched a tender to provide health insurance to retired citizens, in accordance with law No. 114 of the Ministry of Health in 2014. Seven companies accepted the government invitation, including Al Ahleia …
General News
Photo Credit: Arabianeye - Reuters
13 August 2015 00:06 PM Wethaq divests Rasameel stake for KWD 472.5THD
Kuwait – Mubasher: Wethaq Takaful Insurance Company board of directors gave a nod Wednesday to selling its entire stake in Rasameel Structured Finance. (Wethaq added, in a bourse filing that it sold 5.25 million shares in Rasameel, for KWD …
Corporate Actions
Photo Credit: Arabianeye-Reuters
11 August 2015 09:15 AM Wethaq divests Egypt’s unit for $4.3m
Kuwait-Mubasher: Wethaq Takaful Insurance’s board gave the go-ahead on Monday to sell its stake in Wethaq - Egypt for KWD 1.3 million ($4.3 million) in interest of an unknown buyer, said a statement issued Tuesday. The company incurred losses …
Company News
Photo Credit: Arabianeye-Reuters
9 April 2015 00:33 PM Wethaq Insurance approves no dividends for FY14
Wethaq Takaful Insurance’s ordinary general meeting agreed on distributing no dividends for the fiscal year ended 31 December, 2014.Standard & Poor’s promoted the company’s status when it affirmed Wethaq at ‘BB’ with a stable outlook in …
Company News
Photo Credit: Arabianeye-Reuters
9 April 2015 08:35 AM Investors of 6 KSE-listed firms to see key events Thursday
Shareholders of six KSE-listed firms are awaiting main events today, Thursday, as Wethaq Takaful Insurance’s ordinary general meeting will review the board’s proposal of distributing no dividends for the fiscal year ended 31 December, 2014.The …
Event
Photo Credit: Arabianeye-Reuters
7 April 2015 11:47 AM Wethaq Takaful accepts Dar’s debt settlement
Wethaq Takaful Insurance agreed on the KWD 270,530 ($901,000) debt settlement offered by Investment Dar (TID).Wethaq noted that the financial impact will reflect on the company’s provisions.Kuwait Investment as well as Kuwait Finance House earlier …
Company News
Photo Credit: Arabianeye-Reuters
2 April 2015 09:26 AM Wethaq accepts Investment Dar’s debt settlement
Wethaq Takaful Insurance, one of the creditors to Investment Dar, has agreed on the debt settlement proposed earlier by Dar on 21 January, 2015.Kuwait Investment rejected, on 19 March, the debt settlement proposed earlier by Dar.Moreover, Kuwait …
Company News