Kuwait Insurance Report Q3 2016 - New Study Released

Kuwait's insurance sector is one of the smaller markets in the Middle East region, with limited rates of penetration and density reflecting a lack of demand for non-compulsory products. T he non-life market is largely dominated by compulsory motor insurance and, for the large expatriate population, compulsory health insurance and these two sectors are expected to lead growth over the medium term. In the life sector a generous social welfare system and cultural barriers will continue to hinder development, though some demand will stem from the expatriate market.

Key Updates And Forecasts

A number of large-scale development projects will stimulate growth in the non-life sector, particularly engineering lines and property cover. For example, in May 2016 Kuwait signed an agreement with South Korea to build a USD4bn smart city in the west of the country, incorporating 25,000 residential units.

Full Report Details at
- http://www.fastmr.com/prod/1182817_kuwait_insurance_report_q3.aspx?afid=301

Life insurance accounts for around a quarter of premiums written in the Kuwaiti insurance sector. Life insurance premiums are expected to grow slowly but steadily throughout the forecast period, rising from USD314mn in 2016 to USD324mn in 2020.

The larger non-life market is expected to record stronger growth between 2016 and 2020, benefiting from a more diverse market which is less reliant upon the expatriate consumer base. Non-life premiums written are currently forecast to increase from USD933mn in 2016 to USD1.2bn in 2020.

The Kuwait Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Kuwait Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Kuwaiti insurance industry.

Key Benefits
Benchmark BMI's independent insurance industry forecasts for Kuwait to test other views - a key input for successful budgeting and strategic business planning in Kuwait's insurance market.
Target business opportunities and risks in Kuwait through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

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