Warba Insurance« raises profit 2%

Warba Insurance Co - Kuwait's fastest growing insurance solutions provider announced today its bi annual results scoring a healthy KD1,285,625/- in the first fiscal half of the year ending 30 June.

Mr. Anwar Jawad Bukhamseen made the announcement on the heels of a board of directors meeting that was held on Monday 30 July to approve the results of this first half of 2012.

The announcement revealed that the company net profits earned shareholders 7.45 fils per share in comparison to 7.29 fils per share during the same period of 2011 with a growth of over 2%. Mr. Bukhamseen attributed this improvement to the company's increase in market share of insurance operations in Kuwait which comes in line with the plan that was launched by management earlier in the year to reinvigorate its activities in the local market.

Referring to the returns, Mr. Bukamseen said that they were consistent with the management's expectations, where the total revenue grew at a healthy rate of 6.8% in comparison with the same period last year, an honest reflection of the direction the management had adopted to improve operations through support of development of in company talent & improving the technological infrastructure despite the economic difficulty the market is experiencing.