During its Annual General Meeting for the financial year 2019 held at the Company’s Head office in Seef District on Wednesday 25th March 2020, Shareholders of Bahrain Kuwait Insurance Company (BSC) approved the Board of Directors’ recommendation to distribute a cash dividend of 15% (BD 2,140,349) of the paid-up capital, excluding treasury shares. The General Assembly also approved the rest of agenda items of this meeting. Finally, the General Assembly approved the appointment of Mr. Khalid Saoud Alhasan, Shawqi Ali Fakroo, Dr. Emad Jawad Bukhamseen, Mr. Bijan Khosrowshahi, Mr. Thamer Ebrahim Arab and Mr. Mubarak Al Ayyar as representatives of the Board for the financial period (2020-2022). Also, the AGM approved the election of Mr. Murad Ali Murad , Mr. Hasan Mohamed Zainalabedin, Mr. Mohamed Ebrahim Zainal and Mohamed Ahmed Alrayes to this new Board for the same period.
Bahrain Kuwait Insurance Company B.S.C would like to announce the opening of the election for candidacy of four Board of Directors membership for a New Terms (2020 -2023). The election process will be carried out during the Annual General Meeting dated 25th March 2020.
Bahrain Kuwait Insurance Company B.S.C. (trading code in Bahrain Bourse “BKIC.BH” and in Kuwait Bourse “BKIKWT”) announces its consolidated financial results for the financial year ended 31st December 2019 as follows: The results for the last three months ending 31st December 2019 registered a net loss of BD 31,000 compared to a profit of BD 342,000 during the same period of the previous year. Earnings per share during the 4th quarter was nil compared to 2 fils in the same period of the previous year. The total comprehensive income decreased by 10% from BD 819,000 in 4th quarter 2018 to BD 741,000 in the same period of the current year. The gross premium revenue increased by 2% from BD 32mn in the 4th quarter of 2018 to BD 32.8mn in the same period of the current year. The underwriting profit increased by 29%, from BD 112,000 to BD 144,000 in the 4th quarter of current year. The net investment income decreased by 21%, from BD 181,000 in the 4th quarter of the previous year to BD 143,000 in the 4th quarter of the current year.
Bahrain Kuwait Insurance Company B.S.C. (trading code in Bahrain Bourse “BKIC.BH” and in Boursa Kuwait “BKIKWT”) announced its financial results for the nine months ended 30th September 2019. The company achieved a net profit attributable to the shareholders of BD 2.73 million, compared to BD 2.81 million in the previous year, registering a decrease of 3%. The company also achieved underwriting profits during the current period of BD 2.08 million, compared to BD 1.84 million of the same period last year, recording an increase of 13%. The gross premium revenue declined by 1%, from BD 49.6 million to BD 48.9 million in the same period this year. The total comprehensive income attributable to the shareholders reached BD 3 million during the current period compared to BD 1.9 million of the same period last year, registering an increase of 57%. The net income from investment increased by 7%, from BD 1.82 million in the first nine months of last year to BD 1.95 million in the same period this year. The Earnings per share were 19 fils compared to 20 fils last year.
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