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Gulf Insurance Group (GIG) announced net profit of 8.1 million KD (26.7 million USD) for the first half of 2019, with a profit of 45.32 per share, compared to a net profit of 6 , 6 million KD ($ 21.7 million) for the same period last year, an increase of 1.5 million KD ($ 5 million), or 23.2%, is attributable to the improvement of the technical results and profits of the investments of the group companies.
Shareholders' equity amounted to KD 90.9 million ($ 299.6 million) as of June 30, 2011. The book value per share at the end of the first half of this year was 508 yarn against 498 yarn at the end of 2018, an increase of 2%.
Premiums written amounted to KD 173.1 million (USD 570.6 million), an increase of 3% compared to KD 168.1 million (USD 554 million) for the same period last year. .
The profit on investment and other income amounted to 6.9 million dinars (22.6 million dollars), against 5.5 million dinars (18.1 million dollars) for the same period of the year last, an increase of 24.8%.
In support of the rights of the licensee and the policyholders, the net technical reserves of the company increased from KD 150 million (US $ 494.6 million) as at 31 December 2013 to US $ 156.3 million. KD (515.16 million USD) as at 30/06/2019. 4.2%, which strengthens the company's ability to cope with the emergency risks that may arise in the future.
Total badets in the first half of 2019 reached 644.7 million dinars (2.13 billion dollars), an increase of 77.6 million dinars (255.7 million dollars), or 13.7% compared to 31/12/2018.
Khalid Saud Al Hbadan, Chairman and Chief Executive Officer of Gulf Insurance Group, said: "The first half results reflect the Group's continued growth, its ability to protect its badets and capital, and its ongoing quest to provide the best insurance services to its clients in all markets.
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