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GIG Bahrain: 2023 results

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Magazine Issue: 
The insurance industry up against the risks of the future [3]
Magazine date: 
Mar 2024

Dr. Abdulla Sultan - Mr. Murad Ali MuradBahrain Kuwait Insurance Company (GIG Bahrain) has published its consolidated financial results for the year 2023.

As at 31 December 2023, the turnover reached 107.673 million BHD (283.9 million USD) against 104.262 million BHD (274.8 million USD) in 2022. The written premiums rose by 3% in one year.

The net profit fell from 5.684 million BHD (15 million USD) in 2022 to 5.005 million BHD (13.2 million USD) in 2023, a decrease of 12%.

At the end of 2023, the company's total assets and shareholders' equity amounted to 171.471 million BHD (452.1 million USD) and 44.229 million BHD (116.6 million USD) respectively.

Read also | Top 5 insurance companies in Bahrain [4]

Wed, 06/03/2024 - 11:30

Source URL: https://www.atlas-mag.net/en/category/pays/bahrein/gig-bahrain-2023-results

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-209-march-2023
[4] https://www.atlas-mag.net/en/article/top-10-insurance-companies-in-bahrain-ranking-2018