Kuwait: Kuwait Re reports 30% jump in profit in 2024
Source: Middle East Insurance Review | Apr 2025
Kuwait Re has announced that it achieved a profit after tax of KWD14.13m ($45.8m) in 2024 compared to KWD10.83m in the previous year, a jump of 30.4%, according to a statement the company lodged with the Kuwait stock exchange.
The statement attributed the surge in profits to a higher insurance revenue, which grew by 12% to KWD79.9m in 2024 from KWD71.4m in 2024, and increased net investment revenues which reached KWD9.22m from KWD6.63m, up by 39%.
As of the end of 2024, total equity stood at KWD91.71m compared with KWD79.69m, 15% increase. M