Kuwait – 34 insurers operate in the market
Thursday, 03 16 2017, Category: Insurance and Reinsurance, Country: Kuwait
The general assembly of the Kuwait Insurance Federation held in meeting for the financial year ending last December in order to discuss the annual report of the federation and approve the financial statements for the last financial year.
Mr. Tareq Al Sahhaf the previous Chairman of the Kuwait Insurance Federation said after reviewing the 2016 annual report that the federation was keen on defending the interests of members at official authorities, it prepared studies, and proposed new insurance contracts in order to support collaboration among insurers. He added that the federation was very much interested in training issues, so it organized 6 training sessions.
Moreover, the secretary general of the Kuwait Insurance Federation Mr. Adel Al Rumaih confirmed that the number of insurance companies in the country is 34 Kuwaiti and non-Kuwaiti companies of which 22 are Kuwaiti and 12 are non-Kuwaiti. He indicated that insurance companies suffer from pricing issues and the old tariff.
Source: Al Shahed Online