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BKIC News

18 APR
gig
20/02/2020

BKIC discloses its financial results for the year ended 31st December 2019

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.

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18 APR
gig
04/11/2019

BKIC discloses its financial results for the 9 months ended 30th September 2019

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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18 APR
gig
06/08/2019

BKIC discloses its financial results for the half year ended 30th June 2019

Bahrain Kuwait Insurance Company B.S.C. (trading code in Bahrain Bourse “BKIC.BH” and in Boursa Kuwait “BKIKWT”) announces its consolidated financial results for the half year ended 30th June 2019. The company achieved a net profit attributable to the shareholders of BD 2.1 million, compared to BD 1.7 million of the same period last year, with an increase of 22%. The underwriting profits increased by 26%, from BD 1.2 million in the first half of last year to BD 1.5 million in the first half of this year. The investment net income increased by 38%, from BD 1.2 million in the first half of last year to BD 1.6 million in the first half of this year. The total comprehensive income attributable to the shareholders reached BD 2 million during the current period compared to BD 1.5 million of the same period last year, registering an increase of 40%. The company achieved gross premium revenue of BD 34.3 million, compared to BD 35 million in last year, with a slight decrease of 2%. Basic Earnings per share were 14 fils during the current period compared to 12 fils of the same period last year.

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18 APR
gig
05/08/2019

BKIC discloses its financial results for the 3 months ended 31st March 2019

Bahrain Kuwait Insurance Company B.S.C. (trading code in Bahrain Bourse “BKIC.BH” and in Boursa Kuwait “BKIKWT”) announces its consolidated financial results for the three months ended 31st March 2019. The company achieved a net profit attributable to the shareholders of BD 794 thousands, compared to BD 1 million of the same period last year, registering a decrease of 24%. The company also achieved underwriting profits of BD 485 thousands during the current period, compared to BD 637 thousands of the same period last year, recording a decrease of 24%. The total comprehensive income attributable to the shareholders reached BD 758 thousands in Q1-2019 compared to BD 1.2 million in Q1-2018, registering a decrease of 39%. In the first three months, the company achieved a gross premium revenue of BD 17.6 million, compared to BD 16.9 million in the same period last year, recording a growth of 4%. The net investment net income increased by 9%, from BD 691 thousands in the first three months of last year to BD 752 thousands in the first three months of this year. The earnings per share were 6 fils in Q1-2019 compared to 7 fils in Q1-2018.

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