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Oct 2016 Kuwait Insurance Company (KIC) closed the year 2015 with a net result of 5.7 million KWD (18.8 million USD), that is an increase of 10.54% compared to 2014.
During 2015, the company's underwritings grew by 4.3% going from 35.61 million KWD(121.81 million USD) in 2014 to 37.15 million KWD (122.58 million USD).
With a premium volume of 29.75 million KWD(98.17 million USD),non life insurance totaled 80% of the overall turnover. Life premiums, meanwhile, amounted to 7.1 million KWD(23.43 million USD), that is 19% of the portfolio.
The Takaful business which accounted for only 1% of the turnover sharply decreased in 2015. Its production was down by 10.5% to attain 336.450 thousand KWD (1.28 million USD).
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