AM Best affirms Kuwait Insurance Company's rating
AM Best affirms Kuwait Insurance Company's (KIC) financial strength rating of "A-" (Excellent) and long-term credit rating of "a-" (Excellent). The outlook for both ratings is stable.
The rating reflects the Kuwaiti insurer's strong balance sheet, good operating performance, and appropriate business risk management.
In 2021, the company recorded a 23% increase in its written premiums with 46.9 million KWD (153.98 million USD) against 38.1 million KWD (125.762 million USD) in 2020. The average combined ratio over 2017-2021 stood at 90% and the return on equity at 10.9%.
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Tue, 05/04/2022 - 11:35
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