Reinsurance News
Kuwait Re
Kuwait Re posts rise in net profit to $65m for 2025
13th February 2026
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 ... Read the full article
Kuwait Re’s net profit increased 39% to $31m in H1’25
7th August 2025
Kuwait Reinsurance Company (Kuwait Re) reported a net profit of $31.07 million (KWD 9,517,762) for the first half of 2025, marking a 39% increase from $22.41 million (KWD 6,876,348) in the same period last year. The company attributed the growth to a 15% increase in gross written premiums and a 31% ... Read the full article
AM Best upgrades credit ratings of Kuwait Re
18th July 2025
AM Best, the credit rating agency, has upgraded the credit ratings of Kuwait Reinsurance Company K.S.C.P. (Kuwait Re), citing its improved financial performance and strong capital position. The company’s Financial Strength Rating has been elevated from A- to A (Excellent), and its Long-Term Issuer Credit Rating has been upgraded from “a-” ... Read the full article
Kuwait Re’s net profit climbs 30% to $46m in 2024
13th February 2025
Kuwait Reinsurance Company has reported a net profit after tax of $45.93 million for the full year 2024, an increase of 30% as compared to the $35.22 million figure posted in 2023. The firm's insurance revenue was also up in 2024, climbing 12% from $232.11 million in 2023 to $259.88 million. Meanwhile, ... Read the full article
AM Best revises Kuwait Re’s outlook to positive
22nd July 2024
AM Best, the global credit rating agency, has revised the outlook to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Kuwait Reinsurance Company K.S.C.P. (Kuwait Re). The rating agency has stated that these ratings reflect Kuwait Re’s ... Read the full article
Kuwait Re’s Q1 net profit swells 40%, CoR hits 89.9%
15th May 2024
In its Q1 2024 results, Kuwait Reinsurance Company revealed that its net profit grew by 40% year-over-year to $13.18 million, while total assets expanded to $669.1 million. The firm's gross written premiums in the opening quarter of 2024 were also up, climbing 12% from Q1 2023's figure of $115.84 million to ... Read the full article
Kuwait Re appoints Afdzal Rasdi Treaty Senior Underwriter
5th May 2023
Kuwait Reinsurance Company K.S.C.P., a global provider of reinsurance services, has announced the appointment of Afdzal Rasdi as Senior Underwriter, Treaty. Rasdi has over ten years of experience in the re/insurance industry, and joins the company from Malaysian Re, where he most recently served as Assistant Vice President Underwriter, a role ... Read the full article
Kuwait Re promotes Kumar and Faizan to Senior Underwriters
28th April 2023
Kuwait Reinsurance Company K.S.C.P. (Kuwait Re) has announced the promotion of Abhijeet Kumar and Siddiqui Ahmad Faizan to the position of Senior Underwriters in the Energy department. Kuwait Re has praised Kumar’s and Faizan’s skills and experience, stating that their exceptional performance and in-depth knowledge will continue to contribute significantly to ... Read the full article
Kuwait Re grows profits by 25% in 2022
20th February 2023
Kuwait Reinsurance Company K.S.C.P (Kuwait Re) has reported net profit after tax of US $26.03 million for the year 2022, an increase of 25% as compared to $20.85 million in the previous year. The company’s underwriting results also improved by 20% during this time, ending the year at $25.28 million, versus ... Read the full article
Kuwait Re hires Szeles as Regional Manager CEE/CIS
26th August 2022
Kuwait Re has appointed Mark Szeles as Regional Manager central and eastern Europe (CEE) and the Commonwealth of Independent States (CIS). Within this role, Szeles will be based in Budapest, Hungary. All in all, Szeles brings over 14 years of experience within the industry towards the role. He joins Kuwait Re from re/insurance broker ... Read the full article
Kuwait Re’s net profit rises by 7% in 2020
5th August 2020
For the first six months of the year, Kuwait Re has reported net profit of KD3.09 million (approx. USD10.1 million), which is up 7% on the same period in 2019. According to the reinsurer, the "technical risk evaluation and prudent capacity allocation" resulted in a solid underwriting performance through H1 2020, ... Read the full article
Premium growth helps lift Kuwait Re profits by 40%
13th February 2020
Kuwait Reinsurance Company K.S.C.P (Kuwait Re) has reported a 40% increase in net profit for 2019, helped by an increase in net earned premiums and investment income. Profit was recorded at KD 4.73 million (US $15.52 million) last year, compared with KD 3.37 million ($12.24 million) in 2018. This result was boosted ... Read the full article
Kuwait Re’s profit up by 30% in 2019
11th November 2019
Kuwait Reinsurance Company K.S.C.P (Kuwait Re) has reported a 30% rise in net profit for the first nine months of 2019 versus the same period in 2018, to KD 3.87 million (USD 12.7 million). As well as a 30% rise in profits, which the firm attributes to premium growth and higher ... Read the full article
Kuwait Re’s H1 profits up 49% as underwriting & investments improve
20th August 2019
Kuwait Reinsurance Company K.S.C.P (Kuwait Re) has posted its results for the first half of 2019, reporting a 49% increase in net profit to KD 2.87 million (US $9.44 million). The result compares with net profit of KD 1.92 million ($6.31 million) recorded in the first half of 2018, and Read the full article
Kuwait Re’s 2018 profit up on investment and premium growth
18th February 2019
Kuwait Reinsurance Company K.S.C.P. has reported that an improved investment performance and higher net earned premiums contributed to a 10% rise in net income for the 2018 financial year. The reinsurer's net income spiked from KD 3.06 million (USD 10 million) in 2017 to KD 3.37 million (USD 10.9 million) in ... Read the full article
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