AM Best has assigned First Takaful Insurance Company (FTIC) of Kuwait a Financial Strength Rating of 'B' (Fair) and a Long-Term Issuer Credit Rating of 'bb' (Fair), with a stable outlook, Middle East Insurance Review reported.
The balance sheet assessment includes a KWD6m ($19.5m) capital injection made in 2026 to restore FTIC's regulatory solvency position. FTIC's weighted average combined ratio over the three years 2023-2025 was 130%. Its investment yield rose to 5.9% in 2025 from 4.0% in 2024, the report said.
FTIC reported insurance revenue of KWD5.9m in 2025. Medical business is almost half of its net portfolio, the report said.
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Middle East Insurance Review ↗News publisher · 5 Oct 2026
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