Al Ahleia Insurance Co, a leading insurer in Kuwait, has had its ratings outlooks revised to ‘Positive’ by AM Best, citing the company’s strong operating performance and improving balance sheet strength. The insurer’s pre-tax profits have been increasing over the past five years, reaching KWD22.7m ($74.3m) in 2023, with a return on equity of 14.3%. Its consolidated net-net combined ratio stood at 89.3% in 2023, reflecting strong underwriting results. The positive outlooks are expected to continue, driven by the company’s good local market presence and international diversification through its reinsurance arm.
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