Kuwait Reinsurance Company achieved a roughly 41% year-on-year rise in net profit for 2025 to $65 million, as total insurance revenue increased by 13% to around $294 million.
After insurance services expenses of $257 million in 2025, the insurance service result before reinsurance contracts held stood at roughly $37 million, up on the prior year’s $34 million.
Allocation of reinsurance premiums rose to more than $26 million in 2025 from $24 million in 2024, as amounts recoverable from reinsurance rose to $24 million from $15 million, resulting in a net expense from reinsurance contracts held of $1.7 million, down considerably on the prior year’s $8.7 million.
As a result, the net insurance service result increased by almost 40% year-on-year t0 $35 million in 2025 compared with $25 million in 2024.
The company’s underwriting result strengthened year-on-year with a combined ratio of 88.42%, compared with 2024’s 90.92%.
The reinsurer also achieved solid top-line growth during the year, reporting a 10% rise in gross written premiums to $360 million, compared with $326 million in 2024.
Net investment income for the reinsurer also increased year-on-year by 19% to $38 million, supported by foreign exchange gains of $4 million, compared with losses of $1.2 million a year earlier.
All in all, Kuwait Re generated total comprehensive income of $65 million for 2025, an increase of 44% from 2024’s $45 million. Shareholders equity increased by 19% to $354 million in 2025, compared with $298 million in 2024.
