Kuwait Re: solid results in 2020

Kuwait ReKuwait Reinsurance Company (Kuwait Re) recorded an increase of 11% in its net profit that was set at 5.23 million KWD (17.12 million USD) in 2020 compared to 4.73 million KWD (15.5 million USD) by late 2019.

As at 31 December 2019 the technical result rose from 3.9 million KWD (12.83 million USD) to 3.93 million KWD (12.86 million USD) one year later. The combined ratio amounted to 96.8%.

During the period under review, the investment income amounted to 3.84 million KWD (12.57 million USD) thus increasing by 0.5% compared to 2019.

The company’s turnover of 2020 remained almost stable at 56.961 million KWD (186.512 million USD) against 56.964 million KWD (187.402 million USD) by late 2019.

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