GULF INSURANCE GROUP

Gulf Insurance Group K.S.C.

GINSStocksBoursa KuwaitInsurance

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	152.31M	160.85M	156.41M	227.75M	231.60M
Total Assets	1.33B	1.24B	1.18B	1.14B	1.37B
Investment Securities	442.64M	416.72M	385.40M	301.01M	282.95M
Reinsurance Recoverable	260.50M	264.20M	242.27M	212.36M	235.29M
Liabilities
Total Liabilities	0.92B	0.86B	0.80B	0.78B	1.02B
Insurance Liabilities	701.30M	634.50M	577.85M	543.91M	234.80M
Unearned Premiums	—	—	—	—	170.81M
Unpaid Claims	—	—	—	—	435.53M
Equity & Ownership
Deferred Policy Acquisition Cost	—	—	—	—	18.61M
Total Equity	407.56M	380.06M	374.14M	363.97M	349.51M
Shares Outstanding	284,572,463	284,572,463	283,751,067	283,751,062	283,751,062
Cash & Assets
Total Assets	1.33B	1.24B	1.18B	1.14B	1.37B
Cash & Equivalents	152.31M	160.85M	156.41M	227.75M	231.60M
Net Cash (Debt)	78.60M	104.76M	95.17M	165.24M	156.12M
Net Cash Per Share	0.28	0.37	0.34	0.58	0.70
Net Cash Growth	-25.0%	+10.1%	-42.4%	+5.8%	+122.9%
Other Receivables Insurance	65.25M	43.76M	16.78M	36.11M	219.93M
Land	11.70M	11.38M	12.47M	—	18.17M
Buildings	32.26M	28.50M	30.42M	—	31.51M
Machinery	—	—	—	—	34.40M
Leasehold Improvements	—	—	—	—	2.33M
Property, Plant & Equipment	44.90M	41.82M	44.34M	48.88M	47.50M
Goodwill	33.34M	33.40M	33.32M	33.23M	32.71M
Other Intangibles Insurance	37.54M	41.52M	46.34M	45.88M	45.77M
Deferred Policy Acquisition Cost	—	—	—	—	18.61M
Other Current Assets Insurance	5.94M	4.62M	14.96M	6.26M	27.32M
Other Long Term Assets Insurance	7.53M	8.73M	14.55M	27.47M	6.68M
Long-Term Deferred Tax Assets	3.04M	2.57M	3.23M	2.54M	—
Separate Account Assets	—	—	—	—	7.35M
Long-Term Leases	4.04M	4.16M	4.41M	4.43M	—
Current Portion of Leases	1.24M	1.06M	0.63M	—	—
Loans & Investments
Policy Loans	76.00K	138.00K	619.00K	481.00K	499.00K
Investment Debt Securities	442.64M	416.72M	385.40M	301.01M	282.95M
Investment Equity Preferred	47.31M	54.31M	48.38M	73.02M	77.19M
Other Investments	41.75M	37.18M	62.89M	65.08M	122.24M
Reinsurance Recoverable	260.50M	264.20M	242.27M	212.36M	235.29M
Total Investments	716.50M	636.24M	603.22M	502.86M	500.54M
Liabilities & Obligations
Total Liabilities & Equity	1.33B	1.24B	1.18B	1.14B	1.37B
Accrued Expenses	14.82M	14.08M	14.38M	23.81M	83.58M
Current Income Taxes Payable	7.15M	5.73M	5.50M	1.74M	0.98M
Other Long Term Liabilities Insurance	62.54M	105.04M	87.56M	107.39M	10.86M
Reinsurance Payable	35.38M	22.46M	36.05M	23.94M	2.39M
Unearned Premiums	—	—	—	—	170.81M
Unpaid Claims	—	—	—	—	435.53M
Insurance Annuity Liabilities	701.30M	634.50M	577.85M	543.91M	234.80M
Deffered Tax Liabilities Insurance	3.57M	1.37M	0.92M	0.57M	—
Debt & Funding
Long-Term Debt	47.68M	35.40M	42.40M	58.08M	75.48M
Short-Term Debt	1.81M	—	3.08M	—	—
Total Debt	73.72M	56.09M	61.23M	62.50M	75.48M
Current Portion of Long-Term Debt	18.94M	15.46M	10.71M	—	—
Equity & Book Value
Shareholders' Equity	407.56M	380.06M	374.14M	363.97M	349.51M
Total Common Equity	324.23M	302.56M	296.26M	288.64M	273.20M
Common Stock	28.46M	28.46M	28.46M	28.46M	28.46M
Additional Paid-In Capital	55.22M	55.22M	54.05M	54.05M	54.05M
Retained Earnings	208.78M	193.45M	181.90M	172.89M	154.08M
Treasury Stock	—	—	-429.00K	-429.00K	-429.00K
Comprehensive Income & Other	31.78M	25.44M	32.29M	33.68M	37.05M
Minority Interest	83.34M	77.50M	77.88M	75.33M	76.31M
Book Value Per Share	0.93	0.85	0.83	0.81	0.75
Tangible Book Value	253.36M	227.65M	216.60M	209.53M	194.72M
Tangible Book Value Per Share	0.68	0.59	0.55	0.53	0.47
Filing Date Shares Outstanding	284.57M	284.57M	283.75M	283.75M	283.75M
Total Common Shares Outstanding	284.57M	284.57M	283.75M	283.75M	283.75M
Supplemental
Total Liabilities Insurance	0.92B	0.86B	0.80B	0.78B	1.02B

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	152.31M	160.85M	156.41M	227.75M	231.60M
Total Assets	1.33B	1.24B	1.18B	1.14B	1.37B
Investment Securities	442.64M	416.72M	385.40M	301.01M	282.95M
Reinsurance Recoverable	260.50M	264.20M	242.27M	212.36M	235.29M
Liabilities
Total Liabilities	0.92B	0.86B	0.80B	0.78B	1.02B
Insurance Liabilities	701.30M	634.50M	577.85M	543.91M	234.80M
Unearned Premiums	—	—	—	—	170.81M
Unpaid Claims	—	—	—	—	435.53M
Equity & Ownership
Deferred Policy Acquisition Cost	—	—	—	—	18.61M
Total Equity	407.56M	380.06M	374.14M	363.97M	349.51M
Shares Outstanding	284,572,463	284,572,463	283,751,067	283,751,062	283,751,062
Cash & Assets
Total Assets	1.33B	1.24B	1.18B	1.14B	1.37B
Cash & Equivalents	152.31M	160.85M	156.41M	227.75M	231.60M
Net Cash (Debt)	78.60M	104.76M	95.17M	165.24M	156.12M
Net Cash Per Share	0.28	0.37	0.34	0.58	0.70
Net Cash Growth	-25.0%	+10.1%	-42.4%	+5.8%	+122.9%
Other Receivables Insurance	65.25M	43.76M	16.78M	36.11M	219.93M
Land	11.70M	11.38M	12.47M	—	18.17M
Buildings	32.26M	28.50M	30.42M	—	31.51M
Machinery	—	—	—	—	34.40M
Leasehold Improvements	—	—	—	—	2.33M
Property, Plant & Equipment	44.90M	41.82M	44.34M	48.88M	47.50M
Goodwill	33.34M	33.40M	33.32M	33.23M	32.71M
Other Intangibles Insurance	37.54M	41.52M	46.34M	45.88M	45.77M
Deferred Policy Acquisition Cost	—	—	—	—	18.61M
Other Current Assets Insurance	5.94M	4.62M	14.96M	6.26M	27.32M
Other Long Term Assets Insurance	7.53M	8.73M	14.55M	27.47M	6.68M
Long-Term Deferred Tax Assets	3.04M	2.57M	3.23M	2.54M	—
Separate Account Assets	—	—	—	—	7.35M
Long-Term Leases	4.04M	4.16M	4.41M	4.43M	—
Current Portion of Leases	1.24M	1.06M	0.63M	—	—
Loans & Investments
Policy Loans	76.00K	138.00K	619.00K	481.00K	499.00K
Investment Debt Securities	442.64M	416.72M	385.40M	301.01M	282.95M
Investment Equity Preferred	47.31M	54.31M	48.38M	73.02M	77.19M
Other Investments	41.75M	37.18M	62.89M	65.08M	122.24M
Reinsurance Recoverable	260.50M	264.20M	242.27M	212.36M	235.29M
Total Investments	716.50M	636.24M	603.22M	502.86M	500.54M
Liabilities & Obligations
Total Liabilities & Equity	1.33B	1.24B	1.18B	1.14B	1.37B
Accrued Expenses	14.82M	14.08M	14.38M	23.81M	83.58M
Current Income Taxes Payable	7.15M	5.73M	5.50M	1.74M	0.98M
Other Long Term Liabilities Insurance	62.54M	105.04M	87.56M	107.39M	10.86M
Reinsurance Payable	35.38M	22.46M	36.05M	23.94M	2.39M
Unearned Premiums	—	—	—	—	170.81M
Unpaid Claims	—	—	—	—	435.53M
Insurance Annuity Liabilities	701.30M	634.50M	577.85M	543.91M	234.80M
Deffered Tax Liabilities Insurance	3.57M	1.37M	0.92M	0.57M	—
Debt & Funding
Long-Term Debt	47.68M	35.40M	42.40M	58.08M	75.48M
Short-Term Debt	1.81M	—	3.08M	—	—
Total Debt	73.72M	56.09M	61.23M	62.50M	75.48M
Current Portion of Long-Term Debt	18.94M	15.46M	10.71M	—	—
Equity & Book Value
Shareholders' Equity	407.56M	380.06M	374.14M	363.97M	349.51M
Total Common Equity	324.23M	302.56M	296.26M	288.64M	273.20M
Common Stock	28.46M	28.46M	28.46M	28.46M	28.46M
Additional Paid-In Capital	55.22M	55.22M	54.05M	54.05M	54.05M
Retained Earnings	208.78M	193.45M	181.90M	172.89M	154.08M
Treasury Stock	—	—	-429.00K	-429.00K	-429.00K
Comprehensive Income & Other	31.78M	25.44M	32.29M	33.68M	37.05M
Minority Interest	83.34M	77.50M	77.88M	75.33M	76.31M
Book Value Per Share	0.93	0.85	0.83	0.81	0.75
Tangible Book Value	253.36M	227.65M	216.60M	209.53M	194.72M
Tangible Book Value Per Share	0.68	0.59	0.55	0.53	0.47
Filing Date Shares Outstanding	284.57M	284.57M	283.75M	283.75M	283.75M
Total Common Shares Outstanding	284.57M	284.57M	283.75M	283.75M	283.75M
Supplemental
Total Liabilities Insurance	0.92B	0.86B	0.80B	0.78B	1.02B