BKIC News

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.

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.

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.

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