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Gulf Insurance profits up 36% in Q3

Gulf Insurance profits up 36% in Q3
Profits amounted to KWD 2.6 million in the third quarter of 2019
GINS
GINS
-0.52% 1,920.00 -10.00

Mubasher: Gulf Insurance Group reported a 35.5% year-on-year (YoY) decline in profits during the third quarter (Q3) of the year, as shown by the company’s financial statements.

Profits amounted to KWD 2.6 million ($8.58 million) in Q3-19, compared with KWD 4.01 million ($13.23 million) in the corresponding period last year.

In the nine-month period ended 30 September, profits rose 1% to KWD 10.71 million, according to a statement by the insurance firm to Boursa Kuwait on Tuesday.

The increase in profits is attributed to higher operational revenues.