Mubasher: The board members of Bahrain Kuwait Insurance on 9 December approved increasing the company’s both authorised and paid-up capital.

The board has recommended the ordinary general meeting (OGM) to raise the authorised capital to BHD 20 million from BHD 10 million, according to a bourse statement disclosed on Sunday.

Bahrain Kuwait Insurance’s board proposed increasing the paid-up capital to BHD 14.3 million instead of BHD 7.15 million through distributing bonus shares of 1-for-1 share to the shareholders registered on records of the OGM’s date.

Subject to the approval of concerned entities, this capital rise will be financed from the general reserve of Bahrain Kuwait Insurance.