BE Magazine - August 2026

the BANKING EXECUTIVE 62 ISSUE 212 AUGUST 2026 FinTech and AI Chornicle Gulf Insurance Group (GIG) an- nounced a net profit of KD23.8 mil- lion ($76.7 million), or 78.06 fils per share ($0.252) for the first half of 2026, an increase of 89.2% or KD11.2 million ($36.2 million) com- pared to a net profit of KD12.6 mil- lion ($40.5 million) for the same period last year. Insurance revenue reached KD399.4 million for the first half of 2026, an increase of 11.1 percent or KD39.8 million compared to the same period last year, the company said. Net investment income reached KD34.8 million for the first half of 2026, an increase of 23.2 percent. The book value per share reached 998 fils as of June 30, 2026, com- pared to 929 fils as of December 31, 2025, an increase of 7.4%. Equity attributable to the sharehold- ers of the parent company amounted to KD283.9 million as of June 30, 2026, an increase of 7.4% compared to the equity attributable to the shareholders of the parent company as of December 31, 2025, which amounted to KD264.2 million ($852.9 million). Total assets came to KD1.5 billion ($4.85 billion) as of June 30, 2026, compared to KD1.33 billion as of December 31, 2025, an increase of KD175.9 million or 13.3 percent. As it continues to strengthen its inter- national footprint and capabilities, GIG remains one of the largest and most diversified insurance groups in the MENA region where it focuses on shaping a valuable insurance ecosys- tem. GULF INSURANCE GROUP FIRST-HALF PROFIT JUMPS 89% TO $76.7MLN