BKIC discloses its financial results for the three months ended March 2021

BKIC discloses its financial results for the three months ended March 2021

Bahrain Kuwait Insurance Company (trading code in Bahrain Bourse “BKIC.BH” and in Boursa Kuwait “BKIKWT”) announced its consolidated financial results for the three months ended 31*t March 2021. The consolidated financial results presented a net profit attributable to the shareholders of BD 0.950 million compared to BD 0.854 million for the same period last year, representing an increase of 11.2%. Earnings per share remained at 6 fils during the 1st quarter of current year and in the same period last year taking into consideration the recent increase in capital. The total comprehensive income attributable to the shareholders reached BD 1.04 million in Q1-2021 compared to comprehensive loss BD 0.987 million in Q1-2020. The company achieved 17.2% growth in gross premium revenue from BD 21.02 million in the 1st quarter of last year to BD 24.63 million in the 1st quarter of current year. The underwriting profits increased by 32.7%, from BD 0.591 million in the 1st quarter of last year to BD 0.784 million in the 1st quarter of current year. The net investment income increased by 10%, from BD 0.522 million in the 1*t quarter of last year to BD 0.574 million in the 1st quarter of current year.