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Bahrain Kuwait Insurance Company B.S.C.
GIG
BAHRAIN
Monday, 12th August 2024
To: Boursa Kuwait
Mubarak Al Kabeer Street, AlSharq
P.O. Box 22235, Safat 13083,
Kuwait
Sub: BKIC Interim Condensed Consolidated Financial Statements - 30th June 2024
We have pleasure in informing you that the Board of Directors of Bahrain Kuwait Insurance Company (BSC) has approved on Monday 12th August 2024 the interim condensed consolidated financial statements for the 6-month period ended 30th June 2024.
The financial information forms along with the approved auditor's report are attached herewith for your kind reference and records.
Thanks and best regards,
Yours sincerely,
Ali Hasan Fardan
Senior Manager - Legal and Compliance and Secretary to the Board
Enclosures/
Licensed by the Central Bank of Bahram as a General Insurance Company dololl liiBasjSjoJlpjasL.djoJo4.00jo
Evt54 1 1514eflig,com gjisJLJL4141 115W/150 5555 44114 I 0/1,- 414-54.4 44441111.111NA! &lain! erA ..twa apha I rAino,§Loo I rwocx0t4J4C49-5114alusalaS.,4dIml...403.111 Head Office I BK1C Tower 2775 Road 28351 beef District 4281 PC) Box 10156) Manama VOngdom of Bahrain1TEL (973) 171199991 Email, info@mcombh1C.R. 59 4745-1
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Invested in You.
Financial Results Form
Non-Kuwaiti Company (KWD)
Company Name
Bahrain Kuwait Insurance Company B.S.C.
Select from the list | 2024-06-30 |
Board of Directors Meeting Date | 2024-08-12 |
Required Documents
Approved financial statements.
Approved auditor's report
This form shall not be deemed to be complete unless the documents mentioned above are provided
ZI-1,1111.i.4-411 .a.L.,JIiy'i | ;L..11.).t..t1 ki-.11sja | |
Change (%) | Six Month Comparativ | Six Month Current Per |
Period | Statement | |
2023-06-30 | 2024-06-30 |
JU UL
(•,41.4 ~JI 4J1
aSj..411
kjt,-m-41 :61,-411
3)141007-oti-4L,+1 JL
Jt. Lt!
- J u,S4S- 73,-011:LA
52,269,5472,390,530
51516
(8)92,607,08385,215,076
16127,287,475148,095,981
298,006,58310,299,010
2093,296,362112,068,097
632,533,20334,421,062
(22)17,439,75413,519,605
281,009,7221,287,790
L:4!t.,,,•/.-1,t'i
N/AN/AN/A
0.41.2241.229
Il a.5".4,9104.AL....10 W1 0j1-.,i.II) .,,.1i
Net Profit (Loss) represents the amount attributable to the owners of the parent Company
kAi,3,11,94,...L.$11 1.4.,...11(,1-.6.;-)44-.-),
Basic & Diluted Earnings per Share
ai9ix.1.1
Current Assets
ji.",.!
Total Assets
4ii..1.111,.:.aL,3.1.61.1
Current Liabilities
c.,1!3.16.1.1jt....?.)
Total Liabilities
rSii 45.zoi (e.AL., zi.,..u.tia$11.1,31.a, ,.;t..."!
Total Equity attributable to the owners of the Parent Company
1.4,41 j1-.-,1
Total Operating Revenue
:1,1,4 Ali (i,J11) ).11,:114..
Net Operating Profit (Loss)
bi..111LAILA/ L,Stiaii.st-11
Accumulated Loss/ Paid-Up Share Capital
,_i,...ii "......,
Exchange Rate
Financial Results Form | 41141 | 1 11.1; |
Non-Kuwaiti Company | 1 | |
a4L,9511 |
(To) | c_ut1.1.1 | JL.%.11 ;312.11 |
4. | ||
Second quarter | Second quarter Current | |
Change (%) | Comparative Period | Period |
2023-06-30 | 2024-06-30 | |
(1) | 1,032,614 | 1,023,304 |
Statement
Ji '45:),..1,11,gukL....:9 00611. | jLo. |
Net Profit (Loss) represents the amount attributable to the owners of the parent Company
(1)77
(71)10,336,6723,038,588
65447,556736,751
- Not Applicable for first Quarter
Increase/Decrease in Net Profit (Loss) is due to
The increase in the net profit for the six months ended 30th June 2024 compared to the same period last year is mainly due to the improvement in both Insurance services results.
Total Revenue realized from | 11/11 |
dealing with related parties | (416,622) |
(value, KWD) |
Total Expenditures incurred from
dealing with related parties(810,851) (value, KWD)
Basic & Diluted Earnings per Share 4Thl
Total Operating Revenue
411 (Oil...A31) Jl j1-4.0
Net Operating Profit (Loss)
LIPIed-l1L5l=•
CS " 7_921
-31J.54-4' 2 Jl °J,••J C-?_rn01-9,' | ||||
LJ | JIc.).• VW' L)--113 &. ;G.A.° f2024 9"69-2 30 | |||
.5.1.11 | L | li.10 45 | JIJI | |
. |
Lth>A Z.11.0).P.11 JL 4 L
1,-.11
Financial Results Form | k,J111 |
2 | |
Non-Kuwaiti Company | |
Annual Financial Statement Results Form | &JLLI z,L31÷41 2.,Lu- | |
Non-Kuwaiti Company (BHD) | ||
((VG) J | JJ_ I | |
Six Month Comparativ, | Six Month Current Per | ol+41 |
Change (%) | ||
Period | Statement | |
2023-06-30 | 2024-06-30 |
c.$114S).4J1 4.41_,,,..?
62,777,9262,937,961
61920
Net Profit (Loss) represents the amount attributable to the owners of the parent Company
Basic & Diluted Earnings per Share
kl_91.1:11
(8)113,351,069104,729,328
Current Assets
,j1.44.1
17155,799,869182,009,960
Total Assets
k131..u1.1,:i115.1141
299,800,05712,657,483
Current Liabilities
21114,194,747137,731,692
Total Liabilities
14•.16rJ1 katl
6 | 39,820,640 | 42,303,486 |
(22) | 21,346,259 | 16,615,595 |
28 | 1,235,900 | 1,582,694 |
cit-611 | 642-:Y.9 | |
N/A | N/A | N/A |
(%) | Lill ,1.1.11 | jt.z11 JUJI |
Second quarter | Second quarter Current | |
Change (%) | Comparative Period | Period |
2023-06-30 | 2024-06-30 | |
(1) | 1,263,920 | 1,257,640 |
(1) | 8 | 8 |
(71) | 12,652,087 | 3,734,424 |
65547,809905,467
- Not Applicable for first Quarter
Financial Results Form
3
Non-Kuwaiti Company
Total Equity attributable to the owners of the
Parent Company
11414 4711
Total Operating Revenue
11.0,4 A7Il | j14., |
Net Operating Profit (Loss) | |
jt.0 | 4.4st"al |
Accumulated Loss/ Paid-Up Share Capital
Statement
:t4J1
Net Profit (Loss) represents the amount attributable to the owners of the parent Company
JI
Basic & Diluted Earnings per Share
I. .t.Ttic,1,1,).2)t1
Total Operating Revenue
4,1,1 .t711 (;iL.Jr.11) &,,11
Net Operating Profit (Loss)
•
ka.1 ,1.1.11,411 Ef.1.7.;
klaAl ,Lacr,LU
Auditor Opinion | ||
1. | Unqualified Opinion | • |
2. | Qualified Opinion | • |
3. | Disclaimer of Opinion | • |
4. | Adverse Opinion | • |
In the event of selecting item No. 2, 3 or 4,
the following table must be filled out, and this form is not considered complete unless it is filled.
NIL
NIL
NIL
NIL
1 | %.11 ..,..j1 |
Ja.L.:,'.. _7..i.,5i .1
.
.L.L.,.7.4 41_, .2
4i.)-11 .1.3-4r-s-, .3
Lyal.a.4 45 .4
kl+A3 | 4 _91 3 31 2 rj.) |
St.41.4 | '1_9 47.11Lt9-L351 |
'31.)-4 41.)63'1 | |
vil-o="15E)-4 | |
L01 ;LILN.IL | |
0 L.1.4 L'iLI L-NJ.I | |
4i'll | |
4,11 .:.11.02A.11 | |
iaj..4.111.4, (..,..i.a | |
41.) j A.1.3 La a--7-11-21 | |
L'J14 I., 4.2c.1 I | |
ci•-43-11419-1-41 | |
cJI41_,..a..11 ...Ail )..) |
Financial Results Form Non-Kuwaiti Company
4.111
NIL
...1..?•14
NIL
.21
NIL
NIL
NIL
NIL
Company Seal
Financial Results Form Non-Kuwaiti Company
ko.frel
...L?"9.2
NIL | Cash Dividends | |||
•ILT14 rtle.1 U1il)33 | ||||
. | ||||
NIL | Bonus Share | |||
LI,6_235.; | ||||
NIL | Other Dividend | |||
V | C.L.) | |||
NIL | No Dividends | |||
at | j1,4411 &pig | J1.1 001, LAt3 | ||
NIL | Issue Premium | NIL | Capital Increase | |
31/ 4.Jji | ||||
NIL | Capital Decrease | |||
Signature | Title | Nam | ||
Lt9i -L4 | ||||
f' .13.."I ;1141Liji (:).39 4j1 | ||||
)1 ..5)t1 | jp"5....3 | |||
. | ||||
Senior Manager | Ali Hasan Fardan | |||
Legal and Compliance | ||||
and Secretary to the Board |
5
pwc
Review report on the interim condensed consolidated financial information to the Board of Directors of Bahrain Kuwait Insurance Company B.S.C.
Introduction
We have reviewed the accompanying interim condensed consolidated statement of financial position of Bahrain Kuwait Insurance Company B.S.C. (the "Company") and its subsidiary (the "Group") as at 30 June 2024 and the related interim condensed consolidated statements of profit or loss and comprehensive income for the three-month and six-month periods then ended, and the related interim condensed consolidated statements of changes in equity and cash flows for the six-month period then ended and explanatory notes. The Board of Directors is responsible for the preparation and presentation of this interim condensed consolidated financial information in accordance with International Accounting Standard 34, 'Interim Financial Reporting' OAS 34"). Our responsibility is to express a conclusion on this interim condensed consolidated financial information based on our review.
Scope of review
We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of interim financial information performed by the independent auditor of the entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial information is not prepared, in all material respects, in accordance with IAS 34.
John Molloy PricewaterhouseCoopers M.E Limited Partner's registration number: 255 Manama, Kingdom of Bahrain
12 August 2024
PricewaterhouseCoopers M.E Limited, Office no. 4701, Building no. 1459, Road no. 4626, Block no. 346, P.O. Box 60771, Manama/Sea Front, Kingdom of Bahrain, Floor 47, West Tower, Bahrain Financial Harbour, T: +973 17 118800, F, +973 17 540556, www.pwc.com/me, CR no. 47378