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Excellent performance in 2015 for Kuwait Re

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Magazine Issue: 
The insurance industry, the limits of a system [3]
Magazine date: 
Feb 2016

Despite a very competitive market, Kuwait Re achieved excellent performance in 2015. Expressed in Kuwaiti dinars, the turnover showed a double-digit growth of 15.45%. It rose from 34.3 million KWD (117.3 million USD) in 2014 to 39.6 million KWD (130.1 million USD) in 2015.

The pre-tax profit increased significantly from 41 000 KWD (140 233 USD) in 2014 to 3.5 million KWD (11.5 million USD).
The combined ratio stood at 93.4%. These positive figures are the result of the reinsurer's new underwriting approach that favors facultative business and non-proportional treaties instead of the quota-share reinsurance.

Wed, 02/03/2016 - 12:11

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