Mubasher: Gulf Insurance Group achieved an increase of 17.3% in profits during the second quarter of 2018 compared to the same period a year ago.

Earnings grew to KWD 3.25 million ($10.75 million) in Q2-18 from KWD 2.77 million ($9.16 million) in Q2-17, according to a bourse statement on Monday.

During the first six months of 2018, the insurance firm reported an incline of 22.5% in profits to KWD 6.58 million compared to KWD 5.37 million in the same half a year ago.

The increase in H1 profits is attributed to a rise in net operating income or net premium revenues.

It is noteworthy that during the first quarter of 2018, Gulf Insurance posted an increase of 28.5% in earnings to KWD 3.34 million from KWD 2.6 million in Q1-17.