Bahrain Kuwait Insurance

Bahrain Kuwait Insurance Company (BKIC) was established in 1975 with Bahraini and Kuwaiti shareholders. By virtue of its shareholding structure, BKIC is allowed to operate as a national insurance company both in Bahrain and Kuwait, the only company to enjoy such a privilege. The company is currently listed on both the Bahrain Stock Exchange and the Kuwait Stock Exchange. BKIC is involved in all classes of insurance with the major categories being Fire, General Accident, Engineering, Marine, Motor, Group Life and Health. BKIC has grown to occupy a leading position in the Bahrain insurance market. The gross premium income written by the company in 2005 amounted to BD22.44 million. The gross premium has reached BD26.93 million in 2006. BKIC has been a leader in community service and this is manifested in the architecturally elegant pedestrian bridge that has been put up on the King Faisal highway. BKIC prides itself on being in the forefront of training and manpower development activity. Out of a total of 93 employed in Bahrain, 70 are Bahraini nationals who occupy positions at all levels of the company. The total staff strength of the company including those at Kuwait is 140. In March 2007 the share capital of BKIC was increased by way of a rights equity offer and the current paid up capital of the company is BD6.063 million. Shareholders Equity as at end of 2006 stands at BD 23.171 million. With a good track record and the financial strength, BKIC is well positioned to face the competitive pressures of the market and expand into new lines of business as well as innovative methods of distribution.