Kuwait Reinsurance Company (Kuwait Re) reported a net profit of KWD12.96m for the first three quarters of this year (3Q2025), 36.4% higher than the KWD9.50m posted for the corresponding period in 2024, according to interim financial reports released by the reinsurer.
The profits were supported by three factors: increased reinsurance revenues, higher net investment income, and gains from foreign exchange.
For 3Q2025, Kuwait Re’s reinsurance revenue jumped by 11.5% year on year to KWD65.79m. The reinsurance service result rose by 23.5% to KWD5.30m, up from $4.29m. Gross written premiums in 3Q2025 reached around KWD97m, registering an 11% year-on-year increase.
Investment income jumped by 22.9% year on year to KWD8.64m. Forex gains soared to KWD1.03m in 3Q2025 compared to KWD64,944 in the corresponding nine months in 2024.
Total assets reached around KWD263m at 30 September 2025 against KWD231.6m as of 31 December 2024, a 14% increase. Shareholders’ equity reached KWD103m as of 30 September 2025, registering a 13% growth rate over 31 December 2024.