August 7th, 2018 | 0 commentsGulf Insurance Group achieved an increase of 17.3% in profits during the second quarter of 2018 compared to the same period a year ago. Earnings grew to KWD 3.25 million ($10.75 million) in Q2-18 from KWD 2.77 million ($9.16 million) in Q2-17, according to a bourse statement on Monday. During the first six months of 2018, the insurance fi...
August 7th, 2018 | 0 commentsUnited Insurance Company (UIC) has changed its name to Fidelity United Insurance. The company’s trading symbol will also be modified to “FIDELITYUNITED”, the insurance firm said in a statement to the Abu Dhabi Securities Exchange (ADX) on Monday. These changes are effective Monday, 6 August, the statement added. -Mubasher
August 6th, 2018 | 0 commentsBahrain Kuwait Insurance is currently considering merging its branches and some supportive services with Takaful International, the chairman of Bahrain Kuwait Insurance Murad Ali Mohamed Murad said, according to Al Ayam Newspaper. Bahrain Kuwait Insurance, which is listed on both Bahrain Bourse (BHB) and Boursa Kuwait, has acquired 77.25%...
August 6th, 2018 | 0 commentsSaudi Re for Cooperative Reinsurance Co. on Sunday said its profits more than halved in the second quarter of 2018. Saudi Re logged SAR 6.436 million ($1.72 million) in net profits before Zakat in Q2-18, down 52% year-on-year from SAR 13.409 million ($3.57 million). Quarter-on-quarter, the insurance firm’s profits decreased 15.28% from SA...
August 6th, 2018 | 0 commentsMalath Insurance on Sunday reported a 5.1% year-on-year growth in net profits for the second quarter of 2018. The company posted SAR 5.29 million ($1.41 million) during Q2-18, up from SAR 5 million ($1.33 million) in the year-ago period, according to a statement to the Saudi Stock Exchange (Tadawul). Quarter-on-quarter, however, profits t...
August 6th, 2018 | 0 commentsBupa Arabia for Cooperative Insurance reported a 22.7% year-on-year growth in net profits for the second quarter of 2018. Bupa’s profits reached SAR 178.86 million ($47.86 million) during Q2-18, up from SAR 145.77 million ($38.86 million) in the year-ago period, according to a bourse statement. Quarter-on-quarter, profits skyrocketed 1.18...
August 1st, 2018 | 0 commentsInsurance House’s net profit has more than tripled to AED 6.63 million in the first six months of 2018, compared to AED 2.11 million in the year-ago period. Gross premiums written during the period between January and June stood at AED 124.59 million versus AED 130.78 million a year earlier, according to a company statement. “We will stri...
July 31st, 2018 | 0 commentsWethaq Takaful Insurance achieved profits valued at nearly KWD 17,120 ($56,640) during the second quarter of 2018 against losses of nearly KWD 74,430 ($246,220) in the same period a year ago. During the first six months of 2018, Wethaq Takaful posted a decline of 75.5% in profits to about KWD 41,220 compared to nearly KWD 167,870 in the s...
July 31st, 2018 | 0 commentsQatar Islamic Insurance (QISI) on Monday reported a 34.8% year-on-year jump in its profits for the second quarter of 2018. Net profits amounted to QAR 18.01 million ($4.95 million) in Q2-18, compared to QAR 13.36 million ($3.67 million) in Q2-17, according to the company’s filing to the Qatar Stock Exchange (QSE). For the first half of 20...
July 30th, 2018 | 0 commentsRas Al Khaimah National Insurance Co on Sunday reported an AED 10.5 million in net profit for the second quarter of 2018, compared to AED 12.4 million in the same period last year. The company’s gross written premium rose by 15.6% year-on-year to AED 231 million in the three-month period ended June, versus AED 200 million, according to a...
