Gulf Insurance Group: excellent performance in H1 2022

Gulf Insurance Group has recorded an 81% increase in its turnover in the first half of 2022. The latter went from 253 million KWD (838.386 million USD) as at 30 June 2021 to 458.7 million KWD (1.49 billion USD) a year later.

The half-year net income progressed by 27% to reach 15 million KWD (48.8 million USD) against 11.8 million KWD (39.1 million USD) posted in the first half of 2021. This increase was mainly due to improved underwriting and investment income from the Kuwait group.

During the period under review, the insurer's assets amounted to 1.34 billion KWD (4.4 billion USD), thus growing by 67.3% over a year. With 184.4 million KWD (600 million USD), the company's shareholders' equity is up by 42.5%.