WARBA INSURANCE COMPANY (K.S.C.P)

Warba Insurance and Reinsurance Company

WINSREStocksBoursa KuwaitInsurance

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	0.94M	10.75M	6.38M	4.43M	1.63M
Free Cash Flow	0.81M	10.71M	6.28M	4.15M	1.49M
Capital Expenditures	-130.87K	-32.36K	-97.47K	-280.71K	-140.76K
Investing & Financing
Investing Cash Flow	6.33M	-7.93M	-6.43M	-3.06M	-0.44M
Financing Cash Flow	-4.91M	-2.24M	-1.43M	-1.96M	0.51M
Dividends Paid	-2.91M	-2.30M	-1.33M	-1.65M	-1.29M
Share Repurchase	—	—	-0.10M	-0.31M	-3.43M
Operating Activities
Operating Cash Flow	0.94M	10.75M	6.38M	4.43M	1.63M
Net Income	4.53M	5.62M	7.09M	4.86M	2.34M
Change Accounts Receivable Insurance	—	—	—	—	-68.35K
Change in Working Capital	0.31M	8.03M	2.07M	0.34M	0.17M
Change Insurance Reserves Liabilities	1.51M	-2.67M	-2.25M	-28.04M	-2.04M
Change Other Net Oper Assets Insurance	-0.04M	7.65M	1.81M	0.58M	-1.00M
Other Operating Activities Insurance	-2.95M	-2.21M	-1.96M	-0.99M	-0.97M
Depreciation & Amortization	246.47K	250.79K	231.86K	211.13K	214.14K
Reinsurance Recoverable CF	-1.16M	3.05M	2.51M	27.80M	3.28M
Investing Activities
Investing Cash Flow	6.33M	-7.93M	-6.43M	-3.06M	-0.44M
Capex Insurance	-130.87K	-32.36K	-97.47K	-280.71K	-140.76K
Investment in Securities	3.95M	-10.40M	-8.36M	-4.32M	-1.64M
Other Investing Activities	2.51M	2.31M	2.02M	1.55M	1.34M
Sale of Property, Plant & Equipment	—	200.61K	—	—	—
Loss (Gain) on Sale of Investments	-923.58K	-632.10K	-708.53K	—	-416.33K
Financing Activities
Financing Cash Flow	-4.91M	-2.24M	-1.43M	-1.96M	0.51M
Common Dividends Paid	-2.91M	-2.30M	-1.33M	-1.65M	-1.29M
Common Issued Insurance	—	0.07M	—	—	3.24M
Common Repurchased Insurance	—	—	-0.10M	-0.31M	-3.43M
Long-Term Debt Issued	—	—	—	—	2.00M
Long-Term Debt Repaid	-2.00M	—	—	—	—
Net Debt Issued Insurance	-2.00M	—	—	—	2.00M
Total Debt Repaid Insurance	-2.00M	—	—	—	—
Free Cash Flow & Returns
Free Cash Flow	0.81M	10.71M	6.28M	4.15M	1.49M
Free Cash Flow Growth	-92.4%	+70.5%	+51.5%	+177.7%	-68.7%
Free Cash Flow Margin	+3.1%	+39.2%	+22.6%	+19.7%	+6.9%
Free Cash Flow Per Share	0.00	0.04	0.03	0.02	0.01
Levered Free Cash Flow	-8.30M	-4.01M	-1.28M	-28.06M	3.57M
Unlevered Free Cash Flow	-8.30M	-4.01M	-1.28M	-28.06M	3.57M
Operating Cash Flow Growth	-91.2%	+68.4%	+44.1%	+171.0%	-67.1%
Net Cash Flow	2.37M	0.58M	-1.48M	-0.59M	1.71M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	0.94M	10.75M	6.38M	4.43M	1.63M
Free Cash Flow	0.81M	10.71M	6.28M	4.15M	1.49M
Capital Expenditures	-130.87K	-32.36K	-97.47K	-280.71K	-140.76K
Investing & Financing
Investing Cash Flow	6.33M	-7.93M	-6.43M	-3.06M	-0.44M
Financing Cash Flow	-4.91M	-2.24M	-1.43M	-1.96M	0.51M
Dividends Paid	-2.91M	-2.30M	-1.33M	-1.65M	-1.29M
Share Repurchase	—	—	-0.10M	-0.31M	-3.43M
Operating Activities
Operating Cash Flow	0.94M	10.75M	6.38M	4.43M	1.63M
Net Income	4.53M	5.62M	7.09M	4.86M	2.34M
Change Accounts Receivable Insurance	—	—	—	—	-68.35K
Change in Working Capital	0.31M	8.03M	2.07M	0.34M	0.17M
Change Insurance Reserves Liabilities	1.51M	-2.67M	-2.25M	-28.04M	-2.04M
Change Other Net Oper Assets Insurance	-0.04M	7.65M	1.81M	0.58M	-1.00M
Other Operating Activities Insurance	-2.95M	-2.21M	-1.96M	-0.99M	-0.97M
Depreciation & Amortization	246.47K	250.79K	231.86K	211.13K	214.14K
Reinsurance Recoverable CF	-1.16M	3.05M	2.51M	27.80M	3.28M
Investing Activities
Investing Cash Flow	6.33M	-7.93M	-6.43M	-3.06M	-0.44M
Capex Insurance	-130.87K	-32.36K	-97.47K	-280.71K	-140.76K
Investment in Securities	3.95M	-10.40M	-8.36M	-4.32M	-1.64M
Other Investing Activities	2.51M	2.31M	2.02M	1.55M	1.34M
Sale of Property, Plant & Equipment	—	200.61K	—	—	—
Loss (Gain) on Sale of Investments	-923.58K	-632.10K	-708.53K	—	-416.33K
Financing Activities
Financing Cash Flow	-4.91M	-2.24M	-1.43M	-1.96M	0.51M
Common Dividends Paid	-2.91M	-2.30M	-1.33M	-1.65M	-1.29M
Common Issued Insurance	—	0.07M	—	—	3.24M
Common Repurchased Insurance	—	—	-0.10M	-0.31M	-3.43M
Long-Term Debt Issued	—	—	—	—	2.00M
Long-Term Debt Repaid	-2.00M	—	—	—	—
Net Debt Issued Insurance	-2.00M	—	—	—	2.00M
Total Debt Repaid Insurance	-2.00M	—	—	—	—
Free Cash Flow & Returns
Free Cash Flow	0.81M	10.71M	6.28M	4.15M	1.49M
Free Cash Flow Growth	-92.4%	+70.5%	+51.5%	+177.7%	-68.7%
Free Cash Flow Margin	+3.1%	+39.2%	+22.6%	+19.7%	+6.9%
Free Cash Flow Per Share	0.00	0.04	0.03	0.02	0.01
Levered Free Cash Flow	-8.30M	-4.01M	-1.28M	-28.06M	3.57M
Unlevered Free Cash Flow	-8.30M	-4.01M	-1.28M	-28.06M	3.57M
Operating Cash Flow Growth	-91.2%	+68.4%	+44.1%	+171.0%	-67.1%
Net Cash Flow	2.37M	0.58M	-1.48M	-0.59M	1.71M