Al-Ahleia Insurance posts KD 3.3 mln in Q1 profits
Al-Ahleia Insurance Company has announced KD 3.3 million (USD 11.7 million) in net profit for the first quarter of 2014 compared to KD 2.43 million (USD 8.6 million) for the same period last year.
Shareholders’ total equity amounted to KD 97 million (USD 344.6 million) for the three months ending in March against KD 90 million (USD 319.8 million) in the same period of 2013, the company said in an online release on Tuesday.
The company’s assets hit KD 164 million (USD 582.7 million), while liabilities reached KD 67 million for the same period, it added.
Established in 1962, Al-Ahleia Insurance Company is one of the leading insurance companies in the State of Kuwait and the Arab World.
The company was launched in response to the economic growth of the State of Kuwait following the discovery of oil and the drive to enter the international oil market.
Source : KUNA Kuwait News agency