The Dhivehi Insurance Company has been officially launched today by the Economic Minister, Dr. Mohamed Saeed.
The services provided by this company are designed in a way that is suitable to the lifestyle of Maldivians, and it will work to recover the finances lost in a natural incident. This company is owned completely by the Maldives.
At the launching ceremony, the Managing Director of this company Abdulla Waheed Thaufeeq said that the only way to improve the finance sector and insurance sector is to increase the participation of Maldivian companies. He also said that because the Maldivian finance sector is an open one, foreign companies take part in it, and sometimes the decisions taken by those companies can negatively impact Maldivian companies.
He also said sometimes, these foreign companies may pull out of the country and the only way to fix this problem is by promoting the Maldivian companies in this field.
Dhivehi Insurance Company is the fifth insurance company to be launched in the Maldives. JB Borders is the reinsurance company for Dhivehi Insurance. The license to operate was given to this company in June of last year.
