Mubasher: Gulf Insurance Group (GIG) has won a KWD 307.8 million ($1.011 billion) contract from the Kuwaiti health ministry.

Under the two-year contract, the insurance company will provide health care services to retired citizens in Kuwait, according to a bourse statement released on Thursday.

GIG posted a 12.2% year-on-year rise in profits during the first quarter of 2019, recording KWD 3.74 million ($12.33 million).