Reinsurance deal rebranding ‘Swiss Re’ to Kuwaiti market: KFH Takaful
‘Enhancing company’s capacity in insurance against risk’
KUWAIT CITY, Dec 24: KFH Takaful Company” (KFH Takaful) had successfully signed their Reinsurance Treaty for 2019 with “Swiss Re” – the world first class reinsures in reinsurance field. In co-ordination and co-operation with Swiss Re, KFH Takaful Co assures to provide their best insurance services to customers. This confirms the company’s efforts to enhance its existence and importance in the local market, aiming to open new fields toward major projects, helping to diversify customer segments and developing the company’s performance to become more competitive and growing in various areas of business through the above strategic partnership.
Chief Executive Officer Qutaiba Al Nisf stated in a press conference that the Agreement made with “Swiss Re” strengthens the company’s capacity to evaluate and secure risks and opening up new fields with a higher ability to attract additional customers. “Swiss Re” Global Lead Reinsurer, is distinguished with the following Credit Rating:
Standard & Poor’s: AA (very strong) Moody’s: Aa3 (excellent) A.M. Best: A+ (superior) Al Nisf, expressed his pride and happiness in this strategic step of entering in to an agreement with “Swiss Re” and being a gateway for the company’s entry in to the Kuwaiti Market after a long period of absence. The participation of global giant insurance company and their expertise and experiences in the field of insurance, will help to calculate risks at the highest possible levels and noting that some risks require different plans and preparations.
He added, “We believe that this Treaty Agreement reflects the quality of our company. The high relevant and expansive plans along with our continuous endeavor to expand the market share are trusted to attract distinguished customers. Collaborating with a strong Insurance firm enables us to participate in Major Projects bearing in mind that the government is planning to launch more development/ infrastructure projects. This will also promote the performance in private sector, which requires necessary insurance and reinsurance activities in national or trans-border economic business.
In conclusion, Al Nisf confirmed that “KFH Takaful” will continue to provide distinctive insurance services that meet the needs and desires of their customers. Furthermore, he assures to add more benefits with speed of performance, diversity in the delivery of Insurance solutions to cover different areas of business and various aspects of economic activities and provide the security and reliability to their Programs. This is with the objective of highlighting the strength of the company and its position in the local market, where it holds a large insurance portfolio, leading position among other Traditional and Takaful Insurance companies and is characterized by multiple and appropriate solutions catering to the requirement of all customers on the widest scale.