Kuwait: Insurance regulator launches its medium-term strategy
Source: Middle East Insurance Review | Feb 2023
Kuwait’s Insurance Regulatory Unit (IRU) has launched its first strategy for the next four years, 2023-2024 to 2026-2027, with the aim of developing and regulating the insurance sector.
IRU head Mohammad Al-Otaibi said the new integrated strategy is in line with Kuwait’s 2035 vision, reported Kuwait News Agency citing a media statement from the unit.
The strategy stresses deterrent control policies aimed at protecting the insured and beneficiaries, raising awareness and promoting an insurance culture.
Mr Al-Otaibi said the strategy also takes into consideration Kuwaitisation and empowerment of young people in jobs in the sector, in line with the country’s development goals aiming to provide job opportunities for citizens in the local labour market. M