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Gulf Union Insurance and Reinsurance Company (GUIRCO) announced its financial results for the six-month period ended June 30, 2026, reporting a net profit attributable to shareholders of BD586,761, compared with BD899,489 recorded during the corresponding period of 2025.
The decrease in net profit was primarily attributable to a higher level of claims incurred, particularly within the motor insurance portfolio, which continued to experience increased claims severity namely the increase in the spare parts costs as compared with the same period of the previous year .
