KIC's Reinsurance Programs are always placed with excellent securities.
The panel of reinsurers holding major share on our Treaty and Facultative Reinsurance are : SCOR, Hannover Re, Swiss Re, Munich Re, ARIG , Zurich, ACE, QBE, CCR Paris, Tokio Marine, Mitsui Sumitomo, Sompo Japan , Korean Re, Kuwait Re, GIC of India; all of which are rated ‘A’ and above.
Continuous monitoring of the Reinsurance Securities.
The largest insurance claim in the history of Kuwait, being US$ 345 Million for KNPC’s Mina Al Ahmadi Refinery Vapour Cloud Explosion on 25th June 2000 was on a policy led by Kuwait Insurance Company. This was professionally managed by KIC and the shares of all participants were promptly settled.