The financial statements of Wethaq Takaful Insurance Company showed an increase in the company's losses in the past year, increasing by 1366.5% compared to the losses of 2019.
According to the company's results for the Kuwaiti Stock Exchange, today, Wednesday, losses last year amounted to 1.28 million dinars, compared to the losses in 2019 of 87.12 thousand dinars.
The company said in a statement to the Stock Exchange that the increase in losses during the years of comparison is due to 3 factors, the first of which is the revaluation losses of real estate investments, and the change in the fair value of financial assets at fair value. Through the profit and loss statement, in addition to the currency difference reserve closed.
On the other hand, the company achieved profits during the fourth quarter of last year, amounting to 87.45 thousand dinars, compared to losses for the same period in 2019, which amounted to 53.92 thousand dinars.
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and deepened its losses in the first nine months of last year, to reach 1.37 million dinars, compared to 33.20 thousand dinars losses for the same period in 2019.
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