Bahrain Kuwait Insurance Company (GIG Bahrain), a subsidiary of Gulf Insurance Group (GIG), has published its consolidated financial statements as at 31 December 2022.
The turnover has reached 104.262 million BHD (274.8 million USD) as of that date, increasing by 12% compared to the same period in 2021. This is the highest turnover ever posted by a locally listed insurance company.
The net profit went up by 14% to 4.748 million BHD (12.5 million USD), making it an historical record for the company since its creation. The underwriting result of 3.811 million BHD (10 million USD) declined by 15% over one year.
As at 31 December 2022, the company's shareholders' equity amounted to 42.03 million BHD (110.8 million USD) and its total assets to 210.024 million BHD (553.5 million USD).