Kuwaiti Regulators Join Global Insurance Body Talks In South Africa
Date
12/5/2024 9:14:25 AM
(MENAFN- Kuwait News Agency (KUNA))
KUWAIT, Dec 5 (KUNA) -- Global insurance body IAIS assembled for annual talks on Thursday in South Africa, in which Kuwaiti regulators are participating alongside their counterparts from more than 100 countries around the world.
Kuwait's participation in this gathering is a testament to national plans aiming to ratchet up global cooperation over insurance regulation, subsequently aligning local efforts at home with international standards, said Kuwaiti insurance regulator deputy chief Abdullah Al-Snan.
On the agenda for the talks, he said it was stacked with pressing matters running the gamut from challenges facing fledgling markets to insurance capital standards, in addition to how the use of emerging technologies such as Artificial Intelligence tools has helped boost regulatory work, he underlined.
The official went on to say that such talks are beneficial in allowing Kuwaiti insurance regulators the chance to discuss cooperation with their global counterparts, while simultaneously keeping abreast of IAIS' evolving capital standards plans, he added. (end)
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