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KIC is a composite life and general insurer, ranking as the largest insurer in the Kuwaiti market in Non-Life business. On behalf of the Kuwait Health Insurance and Investment Scientific and Organizing committee, I am honored and delighted to welcome you to the 2nd Annual Kuwait Health Insurance and Investment Conference. The State of Kuwait has always placed a high emphasis on the health and well-being of its citizens.
We have developed the conference to act as a platform for open dialogue to develop a healthcare system that is both accountable and economically sustainable for future generations. I look forwarding to joining our dedicated conference team in welcoming all our distinguished guests to our beloved country of Kuwait.
The Government of Kuwait is in the process to establish a mandatory health insurance system for Expatriates living in the country with a strong and comprehensive provider network. The inaugural version of the Conference last year brought together over 400 premium attendees from Kuwait and the Region for an industry analysis, global and local best practice sharing, in-depth discussions and networking, for creating an appropriate regulatory framework for Kuwait's health insurance system, discussing the role of the private sector and incentivizing rational investment into health care services. The second edition brings together health system experts from the region to discuss current approaches to expand and strengthen public and private health insurance systems and to capitalize on latest investment and growth opportunities in healthcare in the Region. Kuwait Health Insurance and Investment Conference serves as the only gathering of the most influential decision makers from investors, healthcare providers, pharmaceuticals and other industry stakeholders; to successfully harness the biggest opportunities in investing and expanding in the dynamic GCC and Middle Eastern healthcare market.
Gulf Life Insurance Company (GLIC) was established in 2008 as a subsidiary of Gulf Insurance Company (GIC) in line with the global practice of separating life insurance business from other general insurance businesses, with paid-up capital of KD 10,000,000, GLIC offers life and health insurance solutions to individual customers and corporate entities. GIC is a subsidiary of Kuwait Projects Company (Holding) – KIPCO and is thus member of a diversified group of over 60 companies ranging from financial, industrial, real estate, media and information technology to management and advisory. It has stood as a beacon, guiding and paving the way for the birth, growth and development of the insurance industry in the Gulf.

Besides, it is the clear leader in terms of technical reserves, shareholders' equity, capitalization and superior solvency and liquidity margins. The Management recognizes the invisible asset of knowledge workers which is one of the key resources for competitive advantage.
Apart from the competitive advantages in usual classes like fire, accident, engineering, liabilities, marine, aviation, motor and life, it holds the most prominent position in niche classes like professional indemnity - engineers, architects, lawyers, accountants as well as medical malpractice; besides financial institution risks.
As the country prepares to embark on an ambitious and multi-billion dollar development plan, various public and private sector stake holders have embarked on multiple mega-projects focused on upgrading the access and quality of the Kuwaiti healthcare sector. I believe we have prepared an engaging program that guarantees a successful technical conference amid the culture and scenery of Kuwait. Simultaneously, the Government is working on introducing health insurance coverage for all Kuwaitis starting with the retired citizens in the course of the next few years. Over the years GIC has grown from being a leading personal and commercial insurer into a regional insurance solutions provider.
KIPCO group is the largest holding company based in Kuwait with businesses spread across the world and more than US$ 20 billion under management or control. Following the liberation of Kuwait, KIC carried the mantle of leadership for the insurance of the Government programmes for the reconstruction and rehabilitation of the facilities and infrastructure.
It is also among the top ten insurers in the region in terms of shareholders' equity and assets.
Considering a mega-project to have a value of 100mn KD or ~350 m USD or above, there are currently nine entities developing 21 large scale mega healthcare projects in Kuwait. Our technical program is rich and varied with keynote speeches and expert panels and multiple technical papers.

KIC is therefore unquestionably capable of providing professional and quality service to its customers. We also expect to provide technical demonstrations, and numerous opportunities for informal networking.
KIC's top management is directly involved to ensure operational control and prompt services.
The majority of these projects are concerned with healthcare infrastructure, whereby a total of 11,200 beds are scheduled to be added over the upcoming years, which represents an increase of 130% on the current national bed capacity.
As a conference chair, I know that the success of the conference depends ultimately on the many people who have worked with us in planning and organizing both the technical program and supporting social arrangements. In particular, I would like to thank the organizing teams and the panel moderators for their wise advice and brilliant suggestion on organizing the technical program. KIC's long-standing cordial relationship with various major global reinsurers coupled with its own sound reputation has ensured that major international corporations prefer to do business with KIC. KIC's sound financial standing and excellent reinsurance arrangements have always ensured that claims are settled to the satisfaction of our valued clients.

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22.12.2013 admin

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