Mubasher: First Takaful Insurance achieved profits worth KWD 118,000 ($385,300) during the fourth quarter of 2016 against a loss of KWD 1.1 million ($3.6 million) in the same period of 2015.

During the fiscal year, the company recorded a profit of KWD 1.08 million versus losses reaching nearly KWD 832,350 in the previous fiscal year, according to a bourse statement issued on Sunday.

The positive results are attributed to registering a profit from financial results of an associate, the statement noted.