Mubasher: Warba Insurance reported an increase of 611.3% year-on-year (YoY) in profits during the second quarter of 2019.
The company posted profits of about KWD 446,500 ($1.47 million) in Q2-19 when compared to nearly KWD 62,770 ($206,410) in Q2-18, Warba Insurance said in a statement to Boursa Kuwait on Monday. During the first six months of 2019, Warba Insurance’s profits soared 154.5% YoY to stand at KWD 1.13 million from nearly KWD 443,970 during H1-18.
It is worth to mention that the increase in H1-19 profits was due to an improvement in technical results and return on investment, Warba Insurance noted.
Moreover, during the first quarter of 2019, the company achieved a 79.3% YoY rise in profits to about KWD 683,500 from nearly KWD 381,200 in Q1-18.
