KUWAIT: Kuwait Qatar Insurance Company (KQIC) announced its membership to the Kuwait Insurance Federation (KIF), a strategic step aimed at enhancing KQIC’s presence and influence in the insurance market in the State of Kuwait and in line with its relentless endeavor to consolidate its leadership in the sector and achieve the highest levels of quality and excellence.
On this occasion, the CEO of Kuwait Qatar Insurance Company, Abdullah Abdullatif Al-Ahmad, noted the importance of the membership, pointing out that operating under the umbrella of KIF will offer effective channels of communication and joint work mechanisms that will exponentially enhance cooperation and coordination with other member insurance companies, will help resolve outstanding issues and achieve shared strategic goals.
Additionally, Al-Ahmad praised the efforts made by the KIF and its keenness in carrying out the mandate entrusted to it to develop the Kuwaiti insurance sector given the vital role it plays in the country’s economy. KIF works in coordination with the Insurance Regulatory Unit in the State of Kuwait to improve the performance of insurance companies, strengthen their financial position and improve services, in addition to supporting its technical cadres by providing specialized training courses and workshops that provide them with the necessary skills.
Al-Ahmad concluded his speech by reiterating KQIC’s commitment to supporting all initiatives and activities carried out by the Federation in Kuwait. Within the same context, the Secretary General of the Kuwait Insurance Federation, Adel Al-Rumaih, welcomed KQIC’s membership to the Federation, highlighting the positive effect of unifying ranks and enhancing cooperation among members in order to achieve growth and development targets of the insurance industry in Kuwait. He also expressed confidence that KQIC will contribute effectively to strengthening the role of the Federationand in helping it reach its desired goals.
Kuwait Qatar Insurance Company (KQIC) was established in 2004 and is a subsidiary of Qatar Insurance Group. KQIC offers traditional insurance products and innovative retail solutions for home, travel and motor insurance to every segment of its customer base and acts as a conduit for insurance services across the GCC while helping to connect overseas insurance interests through its global network.
Qatar Insurance Company was established in 1964 as the first national insurance company in the State of Qatar. Today, QIC is the market leader and the first digital insurance company in Qatar and a dominant insurer in the GCC and MENA regions. QIC is one of the largest insurance companies in the MENA region in terms of written premium and total assets and is listed on the Qatar Stock Exchange and has a market capitalization in excess of QAR 7 billion.