KUWAIT: Need for international focus
Kuwait is another strategically interesting jurisdiction that any insurance or reinsurance professional should keep on their agenda. A number of significant transactions are taking place, including many mergers and acquisitions, set-ups and transactions outward from Kuwait. The regulations in Kuwait need more focus as Kuwait sets itself up as a major player in the region’s insurance market and attracts more international players. Recently, some regulatory talks have been taking place, and the priority will probably shift in the coming years to building a more internationally focussed regulatory framework to keep up with the increasing insurance activity.