Kuwait Re: H1 2020 results

Kuwait ReKuwait Re reported its results for the first half of 2020. Established at 39.89 million KWD (129.32 million USD), the turnover declined by 3.4% in comparison with the same period in 2019.

Despite the decrease, Kuwait Re posted a net profit of 3.09 million KWD (10.01 million USD), up by 7.6% compared to the 2.87 million KWD (9.43 million USD) recorded in 2019. Such a growth goes back to the rise in the technical result set at 2.88 million KWD (9.33 million USD) in 2020 against 2.3 million KWD (7.56 million USD) in H1 2019: a 25% growth over one year.

The company's shareholder’s equity, has increased by 1.8% as it was established at 54.55 million KWD (176.85 million USD). The combined ratio was set at 93.5%.

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