The renewal applies to firms that completed the requirements of Insurance Law No. 125 of 2019 and its executive regulations, the unit said in the resolution. Each licence runs for three years from the date of issue, and the firms must pay the applicable fee now and at any later renewal.
The annex lists Professional International Insurance Brokerage and Insurance Only Brokerage for All Insurance Business, both licensed for brokerage, and Kuwait Insurance House for Insurance Consultancy, licensed for insurance professions. The resolution takes effect on issue and is to be published in the Official Gazette.
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Insurance Regulatory Unit, Kuwait — circulars ↗This is an original summary of the linked report, selected by Axxion’s GCC market monitor. Facts are attributed to the publication.
