Legislation amendment for foreign insurers and reinsurers operating in Kuwait

According to a ministerial decision, foreign insurance companies are henceforth exempted from the local procedures for the establishment of their subsidiaries in Kuwait.

These foreign companies are no longer required to create local companies in order to operate in the country.br/> To operate in Kuwait, foreign companies should from now on:

• justify having a valid license in the country where the head office is based
• provide certain financial information to local authorities, including an annual profit and loss account
• publish in two local newspapers, the annual results of the company in both Arabic and English languages
• inform the local authority, in writing and within a period of one month, of any general manager appointment