Mubasher: Gulf Insurance Group reported a 34.5% year-on-year profit increase during the second quarter of 2019, registering KWD 4.37 million ($14.41 million).

In the first six months of 2019, the group’s profit grew by 23.3% to KWD 8.11 million, compared to KWD 6.58 million in the year-ago period, according to a bourse statement released on Tuesday.

The Boursa Kuwait-listed insurer ascribed the increase in profit to the increase in net operating income and investment income.

Gulf Insurance posted a 12.2% year-on-year rise in profits during the first quarter of 2019, recording KWD 3.74 million.