2023-10-29 17:46:16
Gulf Insurance Group announced that it has signed a contract to renew credit facilities with a local bank.
According to a statement on the Kuwait Stock Exchange, Al-Khaleej Insurance stated that the contract is worth 71 million dinars.
The group added that the impact of this will appear in the company’s consolidated financial statements according to the amounts that will be used during subsequent periods of the value of the facilities.
In a separate statement, the Board of Directors of the Gulf Insurance Group Company called on the General Assembly to vote on the sale of the group’s share in the Syrian Kuwait Insurance Company, and to choose the best offers received in this regard. According to the latest announced data, “Gulf Insurance” recorded a profit of 25.35 million dinars in the first six months of the current year, compared to 13.95 million dinars in profit for the first half of the previous year, an increase of 81.7%.
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