Mubasher: Kuwait’s Warba Insurance reported a 79.3% year-on-year increase in profits during the first quarter of 2019.
The company’s profits reached KWD 683,500 ($2.3 million) in Q1-19, compared to KWD 381,200 ($1.3 million) during Q1-18, according to a filing to Boursa Kuwait on Monday.
Warba Insurance ascribed Q1-19 profit growth to a 121.4% surge in net operating profits to KWD 891,700 from KWD 402,800 in Q1-18.
In 2018, the Kuwaiti insurance provider turned a profit after posting KWD 781,520 against a loss of KWD 690,410 a year ago.
