Kuwait Re's nine-month service result rises 49% as its combined ratio improves to 89.5%

Kuwait Re's underwriting result grew far faster than its revenue in the first nine months of 2026, according to figures reported by Middle East Insurance Review on 29 October. The Kuwaiti reinsurer's reinsurance service result rose 49% to $25.86m from $17.38m, and its combined ratio improved to 89.46%.

Business volume grew more slowly. Reinsurance revenue rose 8.5% to KWD71.38m ($231.34m), and gross written premiums were up 6% at $333.33m. Net profit increased 7% to $45.26m, from $42.49m a year earlier. Non-life business still makes up most of the revenue.

The board approved a further 5% interim cash dividend for the third quarter, the publication said. That takes interim dividends for 2026 to 15% of issued and paid-up capital. The report gives no split of claims by event or line of business, so it does not show what drove the better ratio.