Kuwait Re: Q1 2024 results

Kuwait Re has published its key business indicators for 31 March 2024. Gross written premiums reached 131.16 million USD, up by 13% on the 115.84 million USD recorded in the first quarter of 2023.

The net result increased from 9.44 million USD at the end of March 2023 to 13.18 million USD twelve months later, representing a 40% growth.

Investment income progressed by 93% to 9.2 million USD against 4.77 million USD a year earlier. The combined ratio fell by 1.3 points to 89.9%.

The company's shareholders' equity stood at 272.18 million USD, showing a 5% improvement compared with the figure posted as at 31 December 2023. Total assets amounted to 669.1 million USD, up by 4% on the end of the previous year.