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Kuwaiti firms clinch prestigious business award

Chairman of GIG Farqad Al-Sanea receives the prize
Chairman of GIG Farqad Al-Sanea receives the prize
DUBAI, Feb 21 (KUNA) -- Kuwait's Gulf Insurance Group (GIG) and Al-Sayer Group Holding companies have won the Mohammed bin Rashid Al Maktoum Business Excellence Award, a testament to Kuwait's success in the business and financial world.
Chairman of GIG Farqad Al-Sanea and Deputy Chairman of Al-Sayer Group Holding Msaad Al-Sayer received the prizes Tuesday on behalf of their respective companies, in a lavish ceremony where officials from a number of regional companies were in attendance.
Speaking to KUNA, Al-Sanea said that GIG's efforts to develop its business in local and foreign markets proved fruitful, noting that the company operates in ten nations across the Middle East.
On a related note, he called for the formation of a government authority to oversee the insurance industry, which in turn, will lead to better service and fiercer competition.
Established in 1962, GIG is a public shareholding company listed on the Kuwait Stock Exchange and is a subsidiary of Kuwait Projects Company Holding (KIPCO). (end) smr.nam