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International

Foreign players allowed to establish insurers without prerequisites

April 16, 2015 Reprints

A ministerial decision has said that foreign insurers operating in Kuwait need not meet the requirements for setting up insurers and reinsurers in the country, reports Asia Insurance Review citing Argaam.com.

Foreign insurers in the country have been exempted from setting up a stockholding company with a capital of 5 million Kuwaiti dinars ($16.5 million) for insurance operations and KWD 15 million for reinsurance operations. Foreign insurers also have to abide by several rules outlined by the ministerial decision.

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Foreign players allowed to establish insurers without prerequisites

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