Corporate Governance

Kuwait Reinsurance Company recognizes the importance of developing a general framework for effective governance to meet the various expectations of stakeholders, while achieving the objectives of the company. By developing a general framework for governance, we are constantly ensuring Kuwait Re is in accordance with leading practices and regulations, aiming to meet the list of governance requirements issued by the Kuwaiti Capital Markets Authority through disclosures to regulatory authorities and related parties.

The governance framework is subject to the following:

• Kuwait Re Article of Association
• Kuwait Re Company Policy
• Corporate governance rules as issued by the Capital Markets Authorities
• Kuwait Companies Law

Board of Directors:

Sulaiman Hamad Al Dalali
Chairman of the Board of Directors

Mohammad Abdulmohsen Al Saad
Vice Chairman

Tareq Fahad Boresli
Director

Dr. Ali Hamad Al-Bahar
Director

Dr. Mohammed Chérif Chentir
Director

Muzaffer Aktas
Director

Mowaffaq Ridha Khamis
Director

Board Audit Committee

The Audit Committee assists the Board on matters of financial reporting and internal controls including monitoring the integrity of the Company’s financial statements, overseeing both internal and external audit arrangements of the Company, and monitoring compliance with the relevant authorities’ laws and rules.

Members:

• Dr. Ali Hamad Al-Bahar
• Dr. Mohammed Chérif Chentir
• Muzaffer Aktas
• Mowaffaq Ridha Khamis

Board Risk Management Committee

The Risk Management Committee oversees risk management framework and underwriting functions including the Company’s overall risk appetite and limits. The Committee assists the Board in formulating the overall business strategy, investment policy and guidelines.

Members:

• Mowaffaq Ridha Khamis
• Dr. Ali Hamad Al-Bahar
• Dr. Mohammed Chérif Chentir
• Muzaffer Aktas

Board Nomination & Remuneration Committee

The Committee leads the process of nomination of Directors to the Board to ensure a balance of skillsets, experience, and neutrality. The Committee also ensures the remuneration policy encourages enhanced performance and retention of staff as well as attracts new skillsets.

Members:

• Tareq Fahad Boresli
• Mohammad Abdulmohsen Al Saad
• Mowaffaq Ridha Khamis

Board Executive Committee

The Executive Committee shall exercise the powers and authority of the Board of Directors to direct the business and affairs of the Company in between meetings of the Board of Directors.

Members:

• Sulaiman Hamad Al Dalali
• Dr. Ali Hamad Al-Bahar
• Tareq Fahad Boresli