Muscat: National Life and General Insurance (NLGIC) has obtained a licence for operations in Kuwait. This is the company's second foray into countries outside Oman, said a company release.
"We are glad to get this opportunity to do business in Kuwait. We would like to thank the Kuwait administration, as well as the Oman establishment, for all the support given to us from time to time. Kuwait is a potential market and we look forward to providing our expertise and best business practices to the people of Kuwait also and replicate our growth story," said S Venkatachalam, chief executive officer of National Life and General Insurance.
NLGIC already has operations in the United Arab Emirates (UAE), in addition to Oman. The Kuwait operation is another feather in the cap of insurance major’s wide network coverage.
The company currently has more than 190 sales or service touch points across Oman and the UAE. Now Kuwait would be added to its expanding geographical reach. NLGIC offers various products in life, general and corporate insurance and is the market leader in medical insurance.
The insurance firm also holds a Good (B++) Financial Strength Rating from A.M. Best Co. and ISO 9001:2008 certification from British Standards Institute (BSI). These ratings together give its clients and associates an assurance of the company’s financial strength and guarantee quality in systems and processes.
“In line with our strategy to offer insurance solutions on personal lines, Kuwait is a market, where we see tremendous potential in personal lines insurance. We see this is an opportunity to replicate our UAE success in Kuwait also.”