KWSE:WINSRE 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	4.53	5.62	7.09	4.86	2.34	Upgrade
Depreciation & Amortization	0.25	0.25	0.23	0.21	0.21	Upgrade
Gain (Loss) on Sale of Investments	-0.92	-0.63	-0.71	-	-0.42	Upgrade
Change in Accounts Receivable	-	-	-	-	-0.07	Upgrade
Reinsurance Recoverable	-1.16	3.05	2.51	27.8	3.28	Upgrade
Change in Insurance Reserves / Liabilities	1.51	-2.67	-2.25	-28.04	-2.04	Upgrade
Change in Other Net Operating Assets	-0.04	7.65	1.81	0.58	-1	Upgrade
Other Operating Activities	-2.95	-2.21	-1.96	-0.99	-0.97	Upgrade
Operating Cash Flow	0.94	10.75	6.38	4.43	1.63	Upgrade
Operating Cash Flow Growth	-91.21%	68.40%	44.11%	170.96%	-67.05%	Upgrade
Capital Expenditures	-0.13	-0.03	-0.1	-0.28	-0.14	Upgrade
Sale of Property, Plant & Equipment	-	0.2	-	-	-	Upgrade
Investment in Securities	3.95	-10.4	-8.36	-4.32	-1.64	Upgrade
Other Investing Activities	2.51	2.31	2.02	1.55	1.34	Upgrade
Investing Cash Flow	6.33	-7.93	-6.43	-3.06	-0.44	Upgrade
Long-Term Debt Issued	-	-	-	-	2	Upgrade
Total Debt Repaid	-2	-	-	-	-	Upgrade
Net Debt Issued (Repaid)	-2	-	-	-	2	Upgrade
Issuance of Common Stock	-	0.07	-	-	3.24	Upgrade
Repurchases of Common Stock	-	-	-0.1	-0.31	-3.43	Upgrade
Common Dividends Paid	-2.91	-2.3	-1.33	-1.65	-1.29	Upgrade
Financing Cash Flow	-4.91	-2.24	-1.43	-1.96	0.51	Upgrade
Net Cash Flow	2.37	0.58	-1.48	-0.59	1.71	Upgrade
Free Cash Flow	0.81	10.71	6.28	4.15	1.49	Upgrade
Free Cash Flow Growth	-92.40%	70.50%	51.51%	177.70%	-68.70%	Upgrade
Free Cash Flow Margin	3.06%	39.24%	22.63%	19.73%	6.88%	Upgrade
Free Cash Flow Per Share	0.00	0.04	0.03	0.02	0.01	Upgrade
Levered Free Cash Flow	-8.3	-4.01	-1.28	-28.06	3.57	Upgrade
Unlevered Free Cash Flow	-8.3	-4.01	-1.28	-28.06	3.57	Upgrade
Change in Working Capital	0.31	8.03	2.07	0.34	0.17	Upgrade

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