Kuwait Reinsurance Company (Kuwait Re) recorded a 25.5% turnover increase during the first nine months of 2021. As of 30 September 2021, written premiums amounted to 62.78 million KWD (207.784 million USD) compared to 49.99 million KWD (162.807 million USD) during the same period last year.
The net profit rose by 10% to reach 4.86 million KWD (16.08 million USD). The technical result went from 2.88 million KWD (9.37 million USD) at the end of September 2020 to 3.94 million KWD (13.04 million USD), thereby improving by 37% over one year. The combined ratio increased by 1.8 points to reach 94.1%.
During the period under review, the company's equity rose by 8% reaching 61.32 million KWD (202.952 million USD).
Read also | Gulf Insurance Group: results as of 30 September 2021 [4]