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Sunday , January 24 2021

Insurance stocks safe haven for investors at KSE – experts – Disparity of sector’s stocks performance ‘limited’

KUWAIT CITY, Oct 18, (KUNA): For financial analysts, insurance shares listed at the Kuwait Stock Exchange (KSE) offer a safe haven for investors in the long run, for their stability, amid speculative practices on the market. In separate interviews with KUNA on Sunday, two Kuwaiti analysts agreed that insurance stocks are characterized with sensitivity, as they move according to well-considered steps, and are far from any changes, either internal or external, that might impact trading.

The listed insurance stocks at the KSE are considered yield bonds with little liquidity and moves, Vice- Chairman of the First Takaful Insurance Company Saleh Saleh Al-Salmi said. These attract certain investors who are willing to invest in various sectors, for their strength and high revenues, Al-Salmi added, noting that at present the market is “saturated” with these stocks.

For his part, CEO of Al Arabi Financial Brokerage Company Maitham Al-Shakhs said that these stocks are usually rewarding at long intervals, especially in traditional insurance activities. Insurance companies make annual profits through re-insurance of the government companies and oil firms which insure their property for huge sums of money and for long periods, he told KUNA.

Their profits are almost fixed, and greatly stable. According to Al-Shakhs, disparity of insurance stocks performance in the market is limited, as they are restricted by manifold factors related to long-run investments as they are of short turnover. The insurance sector at the KSE includes eight firms: Kuwait Insurance Company (KINS), Gulf Insurance Group (GINS), Al-Ahlia Insurance Company (AIS), Warba Insurance Company (WINS), Kuwait Reinsurance Company (KUWAIT’S), First Takaful Insurance Company (FTI), Wethaq Takaful Insurance Company (WETHAQ) and Bahrain Kuwait Insurance CO. (BI KWT).

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