BKIC News

18 APR
gig
17/02/2019

BKIC discloses its financial results for the year ended 31st December 2018

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 year ended 31st December 2018. The company achieved a net profit attributable to the shareholders of BD 3.2mn, compared to BD 2.6mn in the previous year, registering an increase of 22%. The company also achieved underwriting profits during the current period of BD 1.9mn, compared to BD 1.2mn of the same period last year, recording an increase of 66%. The company achieved a gross premium revenue of BD 81.6mn, compared to BD 59.5mn in the previous year, a growth of 37%. The total comprehensive income reached BD 2.9mn in 2018 compared to BD 2.8mn in 2017. The investment net income increased by 26%, from BD 1.6mn in 2017 to BD 2mn in the current year. The Earnings per share was 22 fils compared to 36 fils last year. It is worth noting that the paid up capital of the company was doubled to BD 14.3mn during 2018.

18 APR
gig
09/07/2018

A.M. Best affirms credit rating of A- (Excellent) with stable outlook of Bahrain Kuwait Insurance Company B.S.C. (gig-Bahrain)

After the periodic review of the company’s business performance, A.M. Best International affirmed the financial strength rating A- (Excellent) and the long-term issuer credit rating of “a-“ of Bahrain Kuwait Insurance Company B.S.C. (gig-Bahrain), and the outlook for both ratings is stable. In their press release, A.M. Best has confirmed that the rating reflects gig-Bahrain’s strong balance sheet strength, the strong operating performance as well as an appropriate enterprise risk management.

18 APR
gig
22/02/2018

BKIC Achieves BD 2.6 Million Net Profit in 2017 Board of Directors Recommends 25% Cash Dividend And 100% Bonus shares

The Board of Directors of Bahrain Kuwait Insurance Company (BKIC) in its meeting on Wednesday 21st Feb’2018 approved the financial results for the year ended 31 December 2017 and decided to propose 25% of paid-up Capital (7,150,000) cash dividend equivalent to 25 fils per share, in addition to 100% bonus shares as announced earlier. The BOD also decided to increase the authorized capital from BD 10 million to BD 20 million.

18 APR
gig
16/08/2017

BKIC achieves a Net Profit of BD 1.14 million in the 1st half of 2017

Bahrain Kuwait Insurance Company’s Board has approved the financial results of the company for the period ended 30 June 2017 in its meeting held on Thursday, 10 August 2017. It should be noted that the consolidated financial statements include the financial statements of Takaful International “subsidiary”, the first Islamic insurance company in the Kingdom of Bahrain and the third largest in terms of gross premiums. In the first half of this year, Bahrain Kuwait Insurance acquired 26.35% of Takaful Intern...

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