Kuwait – Mubasher: Gulf Insurance Group reported a decline of 8.5% in profits during the third quarter of 2016 as compared to the same period a year ago.
Earnings decreased to KWD 3.43 million ($11.32 million) in Q3-15 from KWD 3.75 million ($12.38 million) in Q3-15, according to a recent statement.
During the first nine months of 2016, profits shrank by 6.1% to KWD 10.56 million from KWD 11.24 million in the same period of 2015.
The company clarified that the fall in profits resulted from foreign currencies difference against the Kuwaiti Dinar.
