Gulf Insurance Group: 2023 results

Gulf Insurance Group (GIG) has published its 2023 results. In accordance with IFRS 17 and IFRS 9 accounting standards, insurance revenue was up by 7% from 764.9 million KWD (2.5 billion USD) as at 31 December 2022 to 818.3 million KWD (2.7 billion USD) in 2023.

The net result declined by 36.2% from 33.4 million KWD (108.9 million USD) in 2022 to 21.2 million KWD (69 million USD).

The company's total assets and shareholders' equity on 31 December 2023 amounted to 1.18 billion KWD (3.8 billion USD) and 236.3 million KWD (767.1 million USD) respectively.