Kuwait Re: good results in 2019

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Kuwait ReKuwait Reinsurance Company (Kuwait Re) reported a turnover of 56.96 million KWD (187.4 million USD) in 2019, an increase of 22% in one year. The net profit rose from 3.37 million KWD (11 million USD) to 4.73 million KWD (15.56 million USD), up 40% in comparison with 2018.

This performance is mainly accounted for by a higher investment income which amounted to 3.82 million KWD (12.57 million USD) in 2019 against 2.96 million KWD (9.7 million USD) one year before. For its part, the technical result recorded a 20% growth to 3.90 million KWD (12.83 million USD) compared to 3.25 million KWD (10.66 million USD) in 2018.

The combined ratio improved by 0.3 and was set at 96.6% versus 96.9% one year earlier. Kuwait Re's shareholders' equity stood at 53.38 million KWD (175.6 million USD) compared to 48.69 million KWD (159.6 million USD) in 2018. The return on equity (ROE) also grew from 7.14% in 2018 to 9.26% at the end of 2019.

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Mon, 17/02/2020 - 10:09
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