Kuwait Reinsurance Company (Kuwait Re) has posted a 40.9% increase in net profits to KWD19.9m ($64.9m) for the year ended 31 December 2025, according to the company's audited financial statements.
The reinsurer attributes the surge in net profits to increases in insurance revenue and net investment income as well as foreign exchange gains.
The company’s insurance revenue of KWD90.3m in 2025 comprised KWD85.0m (2024: KWD75.6m) generated from non-life business and KWD5.3m (2024: KWD4.3m) from life reinsurance.
Its net insurance results of KWD9.76m for 2025 consisted of net insurance profits of KWD9.95m (2024: KWD7.36m) for non-life business and net insurance loss of KWD-0.19m (2024: KWD-0.47m) from life reinsurance operations.
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Highlights of Kuwait Re’s audit financial statements for 2025
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2025 KWD
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2024 KWD
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Y-oY change
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Insurance revenue
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90,320,367
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79,940,070
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13.0%
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Insurance service result before reinsurance contracts held
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11,329,776
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10,442,639
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8.5%
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Insurance service result
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10,823,068
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7,759,620
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39.5%
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Net insurance financial result
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9,763,952
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6,888,340
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41.7%
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Net investment income
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11,101,292
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9,222,051
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20.4%
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Foreign exchange gain (loss)
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1,180,181
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(354,810)
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332.6%
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Profit before tax and zakat
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21,200,965
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15,103,491
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40.4%
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Net Profit (Loss)
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19,908,594
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14,127,585
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40.9%
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Balance sheet at 31 December 2025
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Total Assets
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272,139,154
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231,551,398
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17.5%
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Shareholders’ equity
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108,755,639
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91,705,206
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18.6%
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Source: Kuwait Re
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The company operates in three geographic markets, designated as Kuwait, MENA and Others. These other markets include Asia, Africa, and Europe.
The geographical distribution of Kuwait Re’s reinsurance revenue is as follows:
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Market
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2025
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2024
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Y-o-Y change
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Share of total
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Kuwait
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4,984,790
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4,801,163
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3.8%
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5.5%
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MENA
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35,113,429
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34,629,436
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1.4%
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38.9%
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Others
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50,222,148
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40,509,471
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24.0%
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55.6%
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Total
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90,320,367
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79,940,070
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13.0%
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100.0%
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