Mubasher: Kuwait Reinsurance achieved an incline of 20.8% in profits during the first quarter of 2018 compared to the same period in the previous year.

Earnings increased to KWD 1.02 million ($3.39 million) in Q1-18 from around KWD 844,540 ($2.80 million) in Q1-17, according to a bourse statement on Thursday.

The quarterly profits increased due to higher net premiums in addition to a rise in the investment income, the Kuwait-based firm noted. 

Gross operating revenues grew by 43.5% to KWD 10.76 million in Q1-18 compared to KWD 7.49 million in Q1-17.