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FINANCIAL NEWS
BKIC registers USD11m net profit in 2014
15 Feb 2015
(MENAFN) Bahrain Kuwait Insurance Company (BKIC) registered USD11 million net profit in 2014, an increase of 15 percent over USD9.7 million year-on-year, Khaleej Times reported.
Insurance activities generated USD7.79 million in 2014, compared to USD8.7 million in 2013. On the other hand, investment income amounted to USD5.79 million in the former year compared to USD2.7 million in the latter.
According to BKIC chairman, the company’s total assets exceeded an unprecedented USD263.3 million and stood at USD275.96 million compared to its previous stand at USD255.4 million in 2013.
The company was able to achieve good results in 2014, despite difficult circumstances in the region contributed mainly by severe price competition among companies, chairman added in a statement.
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