Kuwait Reinsurance Company (Kuwait Re [4]) has recorded a 26% turnover increase in 2021. Written premiums have reached 71.645 million KWD (236.252 million USD) against 56.961 million KWD (186.512 million USD) at the end of 2020.
With 6.32 million KWD (20.8 million USD), the net profit has grown by 21% compared to 5.23 million KWD (17.125 million USD) in 2020.
As at 31 December 2021, the underwriting result has progressed by 62% to reach 6.37 million KWD (21.005 million USD). The combined ratio went from 96.8% in 2020 to 94.2% one year later.
The net investment income amounted to 3.95 million KWD (13.02 million USD), representing a 3% improvement over one year.
The company's shareholders' equity has climbed by 11.2% to a total of 63.18 million KWD (208.34 million USD).