Kuwait Insurance Regulatory Unit reports KD 5.6 mln profit

16/05/2026

KUWAIT CITY, May 16: Head of the Insurance Regulatory Unit Mohammad Suleiman Al-Otaibi confirmed that the unit achieved outstanding financial performance in the 2025/2026 fiscal year. Al-Otaibi revealed that revenues reached around KD8.9 million for the period from April 1, 2025 to March 31, 2026 -- a growth rate of 8.6 percent compared to the previous fiscal year. He said the net profit for the fiscal year reached about KD5.6 million, allowing the unit to continue recording its best financial performance levels since its establishment in February 2020, affirming its ability to improve its performance year after year. Moreover, acting Deputy Head of the unit Abdullah Zayed Al-Fahad stated that the total revenues of the unit has reached around KD41 million since its establishment, while the share for the State treasury exceeded KD25 million.

He pointed out that the unit accomplished this even if it continues to adapt to the constraints of its founding law, particularly the lack of funds, operating capital and cash reserves, unlike other autonomous government entities. He disclosed that the unit has been using its own revenues to finance its operations and activities since its inception, without burdening the State treasury. He attributed such outstanding financial performance to the close monitoring and efforts of the staff of the unit, as well as the commitment of companies covered by the law to pay their dues on time. He indicated that this achievement is the result of full compliance with Insurance Regulation Law No. 125/2019 and its executive regulations and amendments, taking legal action against non-compliant companies, adopting a prudent and realistic financial policy, and fully committing to the rationalization of expenditures in line with the general policy of the State.

By Marwa Al-Bahrawi Al-Seyassah/Arab Times Staff