Gulf Insurance Group (GIG) announced net profits of KD 25.9 million (approx. USD 79.7 million) for fiscal year 2024, representing a 22% increase compared to KD 21.2 million (approx. USD 65.2 million) in 2023.

Key Financial Highlights:

• Earnings per share (EPS) reached 80.17 fils in 2024, up 28% from 62.6 fils in 2023

• Board recommends 23% cash dividend (23 fils per share) for 2024

• Investment income growth cited as key driver for improved profitability

Corporate Disclosure:
The company filed the disclosure on the Kuwait Stock Exchange website on Wednesday, attributing the annual profit increase primarily to growth in investment returns.

Company Background:

• Established: 1962

• Listed on Kuwait Stock Exchange: 1984

• Authorized capital: KD 35 million (approx. USD 107.8 million)

• Business scope: All types of insurance, guarantees, indemnity, and investment activities in financial and real estate sectors