Shareholders of Kuwait-headquartered Gulf Insurance Group (GIG) have approved the group's exit from the Syrian market and the sale of its subsidiary, Syrian Kuwaiti Insurance.
The head of the Kuwaiti Insurance Regulatory Unit (IRU), Mr Muhammad Al-Otaibi, has emphasised the importance of promoting digital transformation, saying that it "represents a top priority at the present time".
The Insurance Regulatory Unit (IRU) has stressed to insurance companies operating in the local market to settle claim payments arising from traffic accidents fairly and without any bargaining with claimants.
Kuwait-headquartered Gulf Insurance Group (GIG) has published its first sustainability report that outlines the Group's endeavors and milestones in Environmental, Social and Governance (ESG) areas, showcasing its commitment to integrating a sustainable business strategy, solid governance and positive social impact.
Kuwait-headquartered Gulf Insurance Group (GIG) has a very strong consolidated balance sheet, as well as strong operating performance, neutral business profile and appropriate enterprise risk management, says AM Best.
Kuwait's Insurance Regulatory Unit (IRU) has decided on rules for regulating the activity of central insurance repositories.
The new unified motor third-party liability insurance policy will see the light before the end of this year, according to the head of the Insurance Regulatory Unit (IRU), Mohammed Sulaiman Al-Otaibi.
Dhaman Health Assurance Hospitals Company for Expatriates (DHAHCE) has voiced doubts that the annual premium rate of KWD130 ($421) charged for medical insurance to expatriate workers would be able to cover all the costs of services expected from the company.
Al Ahleia Insurance Company has announced that it has obtained preliminary approval from the Kuwait Insurance Regulatory Unit to establish a subsidiary.
Gulf Insurance Group (GIG) has announced a net profit of KWD25.3m ($82.5m) for the first half of 2023, an increase of 81.7% over KWD13.9m for the corresponding half last year.