Net profit of 36.2 million USD for Gulf Insurance

Gulf Insurance, leader of the Kuwaiti market, has posted its 2013 results, with premiums volume reporting an increase of 8% at 157 million KWD (557 million USD) compared to 145.3 million KWD (516 million USD) in 2012.

Net profit stood at 10.2 million KWD (36.2 million USD) while shareholder’s equity increased by 7.6% at 78.5 million KWD (278.6 million USD). The company, which embarked on a regional expansion strategy, hopes to achieve a turnover of 1 billion USD within five years.