Kuwait Re: Q1 2022 results

Kuwait Reinsurance Company (Kuwait Re) has reported a 6% drop in its Q1 turnover to 29.65 million KWD (97.3 million USD).

Net profit has increased by 13% to reach 2.05 million KWD (6.7 million USD) in Q1 2022 compared to 1.82 million KWD (6 million USD) in the same period of 2021.

As of 31 March 2022, the underwriting result amounted to 1.8 million KWD (5.9 million USD), decreasing by 22% over one year. The combined ratio remained almost stable at 91.9% compared to 91.4% at the end of March 2021.

During the period under review, the company's equity capital has increased by 4% to reach 65.76 million KWD (215.9 million USD).