Thursday, February 2, 2023
Reinsurance brokerage company (issuance)
- This service allows having reinsurance brokerage companies (issuance) for business sector.
Eligibility or Criteria
- 1. The applicant must be Kuwaiti
- 2. The applicant must not be less than 21 years old.
- 3. The applicant must be of a good reputation and conduct.
- 4. The applicant must have not been declared bankrupt.
- 5. Academic qualifications and experience certificates must be available for the office manager.
- 6. The applicant for the contract must be a Kuwaiti legal person. If the legal person is part of a partnership, all the joint partners must meet the previous criteria, as per the ministerial decision No. (182) of 2003 and ministerial decision No. (81) of 2012.
- 7. The applicant must be 30 years old and have full civil capacity.
- The applicant must be completely free for the management.
- 9. The applicant must be legitimately resident in Kuwait.
- Criteria for the manager of a reinsurance brokerage company:
- 1. University degree or fellowship degree from the Charted Insurance Institute (CII) in UK, with experience in Insurance of not less than 5 years
- 2. Masters degree in one of the previous fields, with experience of not less than 7 years
- 3. PhD in one of the previous fields with experience of not less than 7 years
- 4. The academic degrees and experience certificates must be officially attested in Arabic (for the office manager).
- 1. Lease contract + receipt
- 2. Copy of Nationality certificate or civil ID
- 3. Statement of the name of the person responsible for management
- 4. Academic degree + experience depending on the degree, for the manager
- 5. Passport, for the manager
- 6. Copy of civil ID, for the owner of license
- 7. Letter from the Public Institution for Social Security, for the license owner
- 8. Copy of the company license, for partnership companies
- 9. Certificate of professional liability insurance
Visit the Ministries Complex, Ministry of Commerce and Industry, 2nd floor, 1st block, Insurance Department and submit the required documents.
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