Kuwait-Mubasher: Warba Insurance divested its entire stake in Kuwait Reinsurance for a total of KWD 1.12 million, according to a bourse statement.

Warba exited its stake in Kuwait Re after selling 5.6 million shares to an unnamed buyer, according to the filing.

The company added that the deal value will be registered in Q3 financials.

It is noteworthy that Al Ahleia Insurance proposed an offer to buy Kuwait Re’s shares for 200 fils each.