Kuwait – Mubasher: First Takaful Insurance Co. said, in a bourse filing Wednesday, its half-year losses were trimmed by 97%.

The insurer logged KWD 184,550 ($608,430) losses for the first half of 2015, down from KWD 5.84 million ($19.25 million) reported in the comparable period a year ago.

The improved results were boosted by achieving KWD 1,451,000 total revenues and zero expenditure of dealing with related parties, together with the net policyholders’ insurance deficit which has been transferred to shareholders.

First Takaful earlier posted KWD 36,990 profit for the first quarter of 2015, against KWD 326,360 loss in the same period a year ago.