Kuwait – Mubasher: Warba Insurance’s losses for the third quarter of fiscal 2016 deepened by 180.4% to KWD 1.34 million, compared to KWD 478,840 for Q3-15.

Net profits for the first nine months of 2016 fell by 45.1% to KWD 885,600 from KWD 1.61 million for the same period of 2015, according to a bourse filing released Tuesday.

Operating revenues rose in the nine-month period by 8.97% to KWD 15.3 million from KWD 14.01 million for the same period last year.

The company earlier posted a net profit of 2.23 million for the first half of 2016, 6.7% up from KWD 2.09 million for H1-15.