Kuwait Insurance wins 5.4 million dinars
Kuwait Insurance Company announced its results for the first half of the current year, reporting a total profit of 5.4 million Kuwaiti dinars ($17.6 million). This performance followed the company’s strengthening of its financial reserves to meet any future insurance obligations, reaffirming its commitment to this established approach since its inception.
Included in the total profit is investment sales revenue amounting to 1.6 million dinars ($5.2 million), which was recorded in deferred income. The net profit for the period reached 3.7 million dinars ($12.1 million), representing an earnings per share (EPS) of 15.76 fils ($0.05). It is worth noting that the EPS for the 2025 and 2026 periods was adjusted following the company’s capital increase to 25 million dinars.
Total underwritten premiums for the period amounted to 31.5 million dinars ($103 million), while insurance revenues reached 28.3 million dinars ($92 million). Total investment income for the period stood at 6 million dinars ($20 million).
Samy Sharif, the company’s Chief Executive Officer, stated that the company adopts a conservative and balanced approach in managing its operations. He highlighted the company’s success in generating high deferred profits totaling 81 million dinars ($264 million), reflecting the strength, robustness, and stability of its financial position.
Sharif noted that alongside the growth in profits and premiums, the company has maintained its distinguished credit ratings from two global rating agencies, AM Best and Moody’s, at A- and A3 respectively, with a stable outlook.
He expressed pride in the company’s continued receipt of these high ratings, viewing them as clear indicators of its advanced standing and leadership in the insurance services sector at both the local and regional levels.
On another note, Sharif stated that the company is making progress in its digital transformation project, working to develop its operational framework into a fully integrated digital system encompassing all internal and external processes in the near future.
Emphasizing the principle of social responsibility, Kuwait Insurance organized a blood donation campaign in coordination with World Blood Donor Day under the slogan “A Drop of Blood Makes a Difference,” involving company employees in collaboration with the Central Blood Bank. The initiative aimed to support the strategic blood reserve and contribute to saving patients’ lives.
Sharif affirmed that Kuwait Insurance strives to continuously invest in and develop its workforce by providing training and educational programs to enhance employees’ capabilities in delivering insurance services to institutions, individuals, and stakeholders, thereby serving the interests of society and Kuwait.
He added, “We still look forward to much more to be accomplished in the coming period. I take this opportunity to thank everyone who contributed to achieving our goals, including the Board of Directors, shareholders, and employees.”
Sharif expressed his gratitude and appreciation to the Insurance Regulation Unit for its active role in enhancing the insurance business environment and consolidating principles of transparency and discipline in the market. He commended its ongoing efforts to support sector stability and improve efficiency, contributing to the sustainable growth of the industry.
