Orient Insurance, the UAE's biggest insurer, has announced that it has been granted approval by the Central Bank of the UAE to establish a branch in Kuwait.
The insurer will apply to the licensing authorities in Kuwait for approval to establish a branch in the country.
The approval of a branch in Kuwait follows Orient Insurance’s entry into Saudi Arabia where it opened an office in Riyadh in December 2024.
Aside from Saudi Arabia, Orient Insurance operates currently in eight countries including the UAE, Oman, Bahrain, Syria, Egypt, Türkiye and Sri Lanka.
In 2024, Orient Insurance outlined its overseas expansion plans in its directors’ report which was a part of its 2023 financial statements. In the report dated 8 March 2024, Orient Insurance vice chairman Omar Abdullah Al Futtaim stated, “We continue our march into wider territories and are at the final stages of setting up our operation in Saudi Arabia.
“We have initiated discussions to explore the possibility of having a takaful branch in Australia.
“We are in conversation with major banks in Egypt to replicate our general insurance success in the field of life insurance as well. Our journey for wider geographical expansion will continue, to have more and more footprints of Orient in the global market.”