Magazine date:
Apr 2023 Insurance companies in Kuwait: 2022 turnover
Figures in thousands
| Companies (1) | 2022 turnover | 2021 turnover | 2021-2022 evolution (2) | ||
|---|---|---|---|---|---|
| KWD | USD | KWD | USD | ||
| GIG Kuwait | 280 700 | 914 947 | 265 600 | 875 827 | 5.69% |
| Al Ahleia Insurance | 126 029 | 410 794 | 113 912 | 375 629 | 10.64% |
| Kuwait Insurance | 50 437 | 164 400 | 46 903 | 154 665 | 7.53% |
| Warba Insurance | 40 868 | 133 210 | 34 212 | 112 815 | 19.46% |
| Bahrain Kuwait Insurance BKIC | 21 777 | 70 983 | 16 809 | 55 428 | 29.55% |
| First Takaful | 3 340 | 10 887 | 3 317 | 10 938 | 0.69% |
| Wethaq Takaful | 2 901 | 9 456 | 2 586 | 8 527 | 12.18% |
| Rest of the market (3) | 42 508 | 185 323 | 43 589 | 206 170 | -2,48% |
| Total market | 568 560 | 1 900 000 | 526 928 | 1 800 000 | 7.90% |
(1) listed on the stock exchange
(2) Growth rate in local currency
(3) 4 companies
Sources: Company reports and https://iru.gov.kw
Insurance companies in Kuwait: 2022 net result
Figures in thousands
| Companies (1) | 2022 net result | 2021 net result | 2021-2022 evolution (2) | ||
|---|---|---|---|---|---|
| KWD | USD | KWD | USD | ||
| GIG Kuwait (3) | 43 047 | 140 313 | 76 502 | 252 268 | -43.73% |
| Al Ahleia Insurance | 17 978 | 58 600 | 14 546 | 47 966 | 23.59% |
| Kuwait Insurance Company | 42 085 | 137 177 | 11 431 | 37 694 | 268.17% |
| Warba Insurance | 3 112 | 10 144 | 2 320 | 7 650 | 34.14% |
| Bahrain Kuwait Insurance BKIC | - | - | - | - | - |
| First Takaful | 140 | 456 | 64 | 211 | 118.75% |
| Wethaq Takaful | 83 | 271 | -39 | -129 | -312.82% |
(1) listed on the stock exchange
(2) Growth rate in local currency
(3) Group net result
Exchange rate as at 31/12/2021 : 1 KWD = 3.29754 USD ; at 31/12/2022: 1 KWD = 3.25952 USD
Read also | List of insurance companies in kuwait [4]
