Kuwait Re posts its 2017 results

Kuwait Re has announced a 57% increase of its 2017 net profits which amounted to 3.06 million KWD (10.2 million USD) compared to 1.95 million KWD (6.39 million USD) reported in 2016. The turnover amounted to 35.07 million KWD (116.41 million USD), up by 19% compared to the 29.39 million KWD (96.31 million USD) reported in 2016. Non-life combined ratio shifted from 96.9% in 2016 to 97.6% in late 2017.

The board of directors recommends that 10% of free stocks, for the previous year, be distributed, a resolution that remains dependent on the approval of shareholders.

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