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Kuwait Re closed the 2024 financial year with a net profit of 45.93 million USD, up by 30% over one year. Gross written premiums rose by 9% to 325.76 million USD.
Insurance revenue climbed from 232.11 million USD at end-December 2023 to 259.88 million USD a year later, reflecting a 12% growth.
Insurance Service Result was 11% higher than in the same period of 2023, amounting to 25.23 million USD.
The combined ratio was slightly up by 0.32 points at 91.35%, compared with 91.03% at the end of 2023.
Net investment income reached 32.08 million USD, representing a 34% progression over twelve months.
As at 31 December, the company's total assets and shareholders' equity stood at 752.77 million USD and 298.13 million USD respectively.
