Kuwait Insurance Company: 2023 results

Kuwait Insurance Company has ended the 2023 financial year with a 6.1% increase in insurance revenue, a new indicator in line with IFRS 17 accounting standards. The figure amounted to 53.754 million KWD (174.5 million USD), against 50.679 million KWD (165.2 million USD) in 2022.

The net result declined from 44.118 million KWD (143.8 million USD) as at 31 December 2022 to 12.294 million KWD (39.9 million USD) twelve months later.

The company's total assets and shareholders' equity as at 31 December 2023 stood at 226.49 million KWD (735.3 million USD) and 141.833 million KWD (460.4 million USD) respectively.