Kuwait Re’s net profit grows 13%

Kuwait Reinsurance Co. KSCP's net profit increased 13% year-on-year to around 2 million Kuwaiti dinar ($6.7 million) in the first quarter of 2022, mainly due to high net investment income and a significant decrease in general and administrative expenses, Middle East Insurance Review reported. Meanwhile, the insurer’s gross written premiums dropped by 6% to KWD29.65 million.