Kuwait Insurance reported a decline of 40.9% in profits during the second quarter of 2018 compared to the same period a year ago.
Earnings shrank to KWD 1.17 million ($3.87 million) in Q2-18 from KWD 1.98 million ($6.55 million) in Q2-17, according to a recent bourse statement.
During the first half of 2018, Kuwait Insurance posted a decrease of 5.7% in profits to KWD 6.15 million from KWD 6.52 million in the same six months of 2017.
The drop in H1 profits is attributed to lower investment income.
It is noteworthy that during the first quarter of 2018, profits grew by 9.7% to KWD 4.98 million compared to KWD 4.54 million in the same period a year ago.