Kuwait: Kuwait Re's outlook revised to positive following enhancements in operating performance
Source: Middle East Insurance Review | Sep 2024
Kuwait Reinsurance Company’s underwriting discipline and prudent risk selection are expected to support continued improvements in its operating metrics, said AM Best.
The reinsurer improved its return-on-equity ratio which increased year-on-year from 9.3% in 2019 to 14.4% in 2023, noted the global credit rating agency.
Kuwait Re’s earnings were underpinned by robust underwriting margins and substantial development of reserving buffers, which has tempered technical earnings in recent years due to its prudence. M