Mubasher: Gulf Insurance Group reported a 35.5% year-on-year (YoY) decline in profits during the third quarter (Q3) of the year, as shown by the company’s financial statements.
Profits amounted to KWD 2.6 million ($8.58 million) in Q3-19, compared with KWD 4.01 million ($13.23 million) in the corresponding period last year.
In the nine-month period ended 30 September, profits rose 1% to KWD 10.71 million, according to a statement by the insurance firm to Boursa Kuwait on Tuesday.
The increase in profits is attributed to higher operational revenues.
