KUWAIT - The Gulf Insurance Group posted KD 23.09 million (approx. USD 69.9 million) worth of net profits in this year's first nine months, declining by 66 percent as compared with the earnings recorded in the same period of the past year.

The company said in a statement posted on Boursa Kuwait (the national stock exchange) on Monday that the earning per share stood at 81.3 fils.

The company, established in 1984, was listed in the local stock exchange in 1984 -- with a capital amounting to KD 35 million (some USD 106.05 million).

It is the first insurance company to lead the life and health insurance business in the local market. It is currently the largest insurance company in Kuwait in terms of gross written premiums and retained premiums in the life, health and auto insurance sectors.

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