Kuwait Reinsurance Company’s net profit in 2025 will increase by approximately 41% year-on-year to US$65 million, and total insurance income will increase by 13% to approximately US$294 million.
After deducting insurance servicing expenses of $257 million in 2025, insurance servicing results prior to holding reinsurance contracts were approximately $37 million, up from $34 million in the prior year.
Reinsurance premium allocations increased from $24 million in 2024 to more than $26 million in 2025, and reinsurance recoverables increased from $15 million to $24 million, resulting in net expenses for holding reinsurance contracts of $1.7 million, a significant decrease from $8.7 million in the prior year.
As a result, insurance services net revenue will increase nearly 40% year-over-year to $35 million in 2025, compared with $25 million in 2024.
The company’s underwriting performance increased year-on-year, with a combined ratio of 88.42%, compared with 90.92% in 2024.
The reinsurer also delivered solid revenue growth this year, with gross premiums rising 10% to $360 million, compared with $326 million in 2024.
The reinsurer’s net investment income also increased 19% year-on-year to $38 million, driven by foreign exchange gains of $4 million, compared with a loss of $1.2 million a year earlier.
All told, Kuwait Re’s 2025 consolidated revenue totaled $65 million, up 44% from $45 million in 2024. Shareholders’ equity increased 19% to $354 million in 2025, compared with $298 million in 2024.
