Kuwait – Mubasher: Kuwait Insurance recorded a growth of 28.6% in profits in the first quarter of 2017 compared to the same period in 2016.

The earnings increased to KWD 4.5 million ($14.7 million) in Q1-17 from KWD 3.5 million ($11.5 million) in Q1-16, according to a bourse filing issued on Thursday.

Meanwhile, Kuwait Insurance’s net operating profit declined by 39.5% to KWD 2.6 million in Q1-17 from KWD 4.3 million in Q1-16.

It is worth highlighting that the company has suffered a loss of nearly KWD 594,690 in fiscal year 2016, against a profit of KWD 5.69 million in FY15.

At the stock level, Kuwait Insurance gained 1.92% to close Thursday’s session at 265 fils.