Gulf Insurance Group announces a net profit of KD 13 million (US$ 42 million) for the first quarter of 2026

Gulf Insurance Group (GIG) today announced a net profit of KD 13 million (US$ 42 million), or 42.99 fils per share (US$ 0.139) for the first quarter of 2026, representing an increase of 97.6% or KD 6.4 million (USD 20.7 million) compared to a net profit of KD 6.6 million (US$ 21.3 million) or 20.42 fils per share (USD 0.066) for the same period last year.

Insurance revenue reached KD 192.5 million (US$ 621.6 million) for the first quarter of 2026, representing an increase of 8.2 percent or KD 14.7 million (US$ 47.2 million) compared to KD 177.8 million (US$ 574.4 million) recorded for the same period last year.

Net investment income reached KD 18.2 million (US$ 58.6 million) for the first quarter of 2026, representing an increase of 49.6 percent or KD 6 million (US$ 19.4 million) compared to KD 12.1 million (US$ 39.2 million) recorded for the same period last year.

The book value per share reached 948 fils as of March 31, 2026, compared to 929 fils as of December 31, 2025, an increase of 2.1%.

Equity attributable to the shareholders of the parent company amounted to KD 269.8 million (US$ 871.5 million) as of March 31, 2026, an increase of 2.1% compared to the equity attributable to the shareholders of the parent company as of December 31, 2025, which amounted to KWD 264.2 million (USD 853.5 million).

Total assets came to KD 1.34 billion (US$ 4.34 billion) as at March 31, 2026, compared to KD 1.33 billion (US$ 4.29 billion) as at December 31, 2025, an increase of KD 16.9 million (US$ 54.6 million), or 1.3 percent.

As it continues to strengthen its international footprint and capabilities, GIG remains one of the largest and most diversified insurance groups in the MENA region where it focuses on shaping a valuable insurance ecosystem.

The Group extended its gratitude to its customers, shareholders, namely FAIRFAX, and board members for their continued trust in the Group’s strategy, further thanking employees for their dedication and efforts and all the concerned authorities in the State of Kuwait for their continuous cooperation to develop the Kuwaiti insurance sector.