Mubasher: Kuwait Insurance reported an 18.5% year-on-year jump in profits during the first quarter of 2019.

The company’s profits amounted to KWD 5.9 million ($19.46 million) in Q1-19, up from KWD 4.98 million ($16.43 million) during Q1-18, according to a filing to Boursa Kuwait on Monday.

The Kuwait-based insurer attributed the rise in Q-19 profits to growth in net operating profits of insurance, combined with higher investment earning.

In 2018, Kuwait Insurance’s profits went up 10.7% to KWD 8.97 million from KWD 8.1 million a year ago.