Gulf Insurance achieves KWD 23.8 million net profit in the first half

Gulf Insurance Group announced that the Group achieved net profits of 23.8 million Kuwaiti dinars, equivalent to earnings per share of 78.06 fils, during the first half of 2026, representing an increase of 89.2%, or 11.2 million dinars, compared to the same period of the previous year, when net profits stood at 12.6 million dinars with earnings per share of 38.68 fils.

Insurance revenues reached 399.4 million dinars in the first half of 2026, marking an 11.1% increase, or 39.8 million dinars, compared to 359.6 million dinars in the same period of the previous year.

Net investment income amounted to 34.8 million dinars in the first half of 2026, reflecting a 23.2% increase, or 6.6 million dinars, compared to 28.2 million dinars in the corresponding period of the prior year.

Book value per share reached 998 fils as of June 30, 2026, up from 929 fils as of December 31, 2025, an increase of 7.4%.

Equity attributable to shareholders of the parent company totaled 283.9 million dinars as of June 30, 2026, a 7.4% rise compared to 264.2 million dinars as of December 31, 2025.

Total assets reached 1.5 billion dinars as of June 30, 2026, compared to 1.33 billion dinars as of December 31, 2025, an increase of 175.9 million dinars, or 13.3%.

As it continues to strengthen its international presence and operational capabilities, Gulf Insurance Group remains one of the largest and most diversified insurance companies in the Middle East and North Africa region, anchored by its design of a value-driven environmental insurance system.

The Group expressed its gratitude to its clients and shareholders, particularly Fairfax, and to the members of the Board of Directors for their ongoing support of the Group’s strategy, while extending its appreciation to its employees for their valuable efforts. It also thanked all regulatory authorities in the State of Kuwait for their continuous cooperation in developing the Kuwaiti insurance sector.