Warba Insurance & Reinsurance Company

Warba Insurance & Reinsurance Company

Established by an Amiri decree in 1976, Warba Insurance & Reinsurance Company is among the oldest listed composite insurers in Kuwait. The firm is ultimately controlled by Bukhamseen Holding Company, a diversified Kuwaiti conglomerate, and Anwar Jawad Bukhamseen has chaired the board since 2010. While the insurer serves individual and corporate policyholders across Kuwait, its investment portfolio is the structural anchor — an estimated $318 million book (Altss estimate) generated from decades of retained premium float. Warba underwrites a full suite of conventional and Takaful-compliant risk: motor, marine, fire and general accident (FGA), life, and medical insurance. The investment side concentrates the resulting float into domestic hard assets and securities. The firm owns Warba Tower, a commercial property on Ahmad Al Jaber Street in Kuwait City's Sharq district, and holds a mixed-use real estate stake through Partners Properties Company WLL. Cash and fixed-income allocations round out the portfolio — a configuration typical of Gulf insurers that prioritize capital preservation and local property exposure over global private equity or venture. Warba maintains institutional-grade credit and operational certifications intended to attract regional reinsurance relationships. The firm holds an ISO 9001:2015 quality-management certification and an ISO 27001:2013 information-security certification, alongside a BBB+ credit rating with a positive outlook. Its strategic orbit extends beyond insurance underwriting: the CEO serves on the board of Kuwait International Bank (KIB), linking Warba to the broader Kuwaiti banking-Takaful ecosystem, and the firm is a member of the Federation of Afro-Asian Insurers and Reinsurers (FAIR). Warba also operates a corporate social-responsibility program, though no separate philanthropic foundation structure is disclosed. Warba's structural distinction lies in its dual life as an insurance carrier and a by-decree Kuwaiti institution. Most global insurers report to shareholders first; Warba reports to a conglomerate parent and a strategic mandate aligned with Kuwait Vision 2035. That alignment — combining state-building insurance-penetration goals with a board chaired directly by the conglomerate's founder — makes Warba's investment-book decisions inseparable from the Bukhamseen ecosystem's broader Kuwaiti real-asset and banking relationships.