We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Kuwait’s agility Q1 profit falls 8.1 percent as costs rise

kuwait's agility

Q1 profit 7.1 million dinars vs. 7.7 million dinars a year ago; Q1 revenue rises 1 percent to 321.8 million dinars


May 17, 2012 11:30 by

Kuwait’s Agility, the logistics firm facing U.S. fraud charges, reported an 8.1 percent drop in first-quarter profit as costs rose faster than revenue.


The firm made a profit of 7.1 million dinars ($25.44 million) in the three months to March 31, down from 7.7 million dinars in the prior-year period, it said in a bourse statement on Wednesday.


Total revenue for the quarter was 321.8 million dinars, up from 318.5 million dinars in the corresponding quarter of 2011, but this gain was outweighed by an increase in revenue costs, which rose 2.2 percent to 234.8 million dinars over the same period.


Agility, which was the largest supplier to the U.S. Army in the Middle East during the war in Iraq, pleaded not guilty in August to charges it defrauded the U.S. government over multi-billion-dollar supply contracts.


The company is barred from bidding for new U.S. government contracts pending the outcome of the cases.

($1 = 0.2791 Kuwaiti dinars)  (Reporting by Matt Smith; Editing by Dinesh Nair)


Tags: , , , ,

Leave a Comment