The KIC's net profit falls down in 2008

Several insurance companies are suffering from a slowdown of their economic operation. Kuwait Insurance has seen its net profit dwindle down by 78%, from 13.3 million KWD (48.5 million USD) in 2007 to 2.9 million KWD (10.6 million USD) in 2008. This fall is mainly accounted for by the big losses reported during the fourth quarter of 2008.