KWSE:KUWAITRE Cash Flow Statement

Financials in millions KWD. Fiscal year is January - December.

Millions KWD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Net Income	19.91	14.13	10.83	8.27	6.32	Upgrade
Depreciation & Amortization	0.08	0.07	0.05	0.06	0.09	Upgrade
Gain (Loss) on Sale of Assets	-	-0.01	-	-0	-	Upgrade
Reinsurance Recoverable	-5.01	5.03	-12.54	1.48	-6.29	Upgrade
Change in Insurance Reserves / Liabilities	24.11	19.02	23.14	5.19	-	Upgrade
Change in Other Net Operating Assets	-0.31	-0.12	0.18	-1.46	-1.13	Upgrade
Other Operating Activities	-10.84	-9.22	-6.57	-3.98	-3.02	Upgrade
Operating Cash Flow	26.83	30.17	19.98	9.94	19.23	Upgrade
Operating Cash Flow Growth	-11.08%	51.04%	101.02%	-48.33%	40.57%	Upgrade
Capital Expenditures	-0.03	-0.08	-0.03	-0.02	-0	Upgrade
Sale of Property, Plant & Equipment	-	0.01	-	0	-	Upgrade
Investment in Securities	-30.89	-36.73	-24.01	-13.75	-22.47	Upgrade
Other Investing Activities	9.46	8.84	6	3.86	3.09	Upgrade
Investing Cash Flow	-21.55	-28.04	-18.12	-9.99	-19.44	Upgrade
Issuance of Common Stock	-	0	-	-	-	Upgrade
Repurchases of Common Stock	-0	-	-0	-0	-	Upgrade
Common Dividends Paid	-2.86	-1.82	-1.43	-1.09	-1.01	Upgrade
Financing Cash Flow	-2.86	-1.82	-1.43	-1.09	-1.01	Upgrade
Foreign Exchange Rate Adjustments	-0.13	-0.19	0.05	-0.1	0.04	Upgrade
Net Cash Flow	2.29	0.13	0.47	-1.25	-1.17	Upgrade
Free Cash Flow	26.79	30.09	19.94	9.92	19.23	Upgrade
Free Cash Flow Growth	-10.95%	50.86%	101.06%	-48.41%	41.48%	Upgrade
Free Cash Flow Margin	28.85%	36.91%	25.73%	15.15%	28.96%	Upgrade
Free Cash Flow Per Share	0.08	0.09	0.06	0.03	0.06	Upgrade
Cash Interest Paid	0	0	0	-	-	Upgrade
Cash Income Tax Paid	-	-	-	0.31	-	Upgrade
Levered Free Cash Flow	3.34	16.48	-11.18	-80.86	21.58	Upgrade
Unlevered Free Cash Flow	3.34	16.48	-11.18	-80.86	21.58	Upgrade
Change in Working Capital	17.69	25.21	15.68	5.59	15.85	Upgrade

Source: S&P Capital IQ. Insurance template. Financial Sources.