Kuwait Insurance Company Announces KD 10.9 Mln Net Profit In '24

2025-03-20 05:06:51

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, March 20 (KUNA) -- Kuwait Insurance Company announced KD 10.9 million (approx. USD 33.5 million) in net profit for the year 2024, compared to the previous year's KD 12.12 million (approx. USD 37.3 million), marking a decrease of 9.95 percent.
In a disclosure published Thursday on Boursa Kuwait website, the Company mentioned that earnings per share amounted to 59.08 fils in 2024, a 9.95 percent decrease from 2023's 65.61 fils per share.
Kuwait Insurance attributed the drop in net income to the decline in insurance service results.
The Company's board of directors recommended the distribution of 40 percent in cash dividends, i.e. 40 fil per share.
The Company, offering a variety of insurance services, was established in 1960 and listed in the local stock market in 1984 with a declared capital of KD 19.4 million (approx. USD 59.7 million). (end)
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