BKIC discloses its financial results for the year ended 31stDecember 2020

BKIC discloses its financial results for the year ended 31stDecember 2020

Bahrain Kuwait Insurance Company B.S.C. (BKIC) announces its consolidated financial results for the financial year ended 31“³ December 2020 as follows:



The consolidated results for the last three months ending 31“³ December 2020 registered a net profit attributable to the shareholders of BD 0.73mio compared to a net loss of BD 0.03mio during the same period of the previous year. Earnings per share during the 4thquarter was 5 fils compared to Nil in the same period of the previous year. The total comprehensive income attributable to shareholders increased by 93% from BD 0.741mio in 4thquarter 2019 to BD 1.430mio in the same period of the current year. The gross premium revenue decreased by 11% from BD 32.790mio in the 4th quarter of 2019 to BD 29.250mio in the same period of the current year. The underwriting profit increased by 532%, from BD 0.144mio in 2019 to BD 0.911mio in the 4th quarter of current year. The net investment income increased by 40%, from BD 0.143mio in the 4th quarter of the previous year to BD 0.200mio in the 4thquarter of the current year.



As for the consolidated financial results for the year ended 31“³ December 2020, the company achieved