Kuwait – High insurance committee established
Thursday, 04 12 2018, Category: Insurance and Reinsurance, Country: Kuwait
KUWAIT - Assistant Undersecretary at the Ministry of Commerce and Industry Abdullah Al-Awais revealed a higher committee will study and develop the insurance industry in Kuwait, headed by representatives of the ministry of commerce and with the membership of all sectors and government parties involved. In his speech on behalf of Minister of Commerce and Industry Khalid Al-Roudhan during a conference and meeting of insurance companies at the Sheraton Hotel, Awais said this step will help in developing a bright future for this sector.
“The ministry is currently working on studying and evaluating a number of options, including a draft law regulating the insurance market as one of the proposals of the ministry of commerce and industry, as well as studying other proposals related to establishing an independent body or strengthening the existing administration. All proposals will be subject to discussion and consultation with insurance sector companies,” he said.