Kuwait Insurance Report Q4 2016

Publisher Name :
Date: 31-Aug-2016
No. of pages: 48

BMI View: Kuwait is one of the smaller insurance markets we monitor in the Gulf region, with the

expansion life segment in particular having been constrained by the strength of the country's social welfare

system and hence a lack of demand for private insurance coverage. As such, underwriting activity is

dominated by compulsory lines such as motor insurance, though we also note the steady expansion of the

health insurance segment. We forecast premiums to grow at a steady rate over the next fear years, against a

backdrop of relatively muted economic growth; however, rising inflation threatens to erode the spending

power of households and hence demand for discretionary insurance products.

Key Updates And Forecasts

? In July 2016, MPs voted to support a proposal to introduce compulsory health insurance coverage for

expats holding visitor visas. The measure aims to reduce the costs to the state of providing health services

to uninsured expats visiting the country. Companies sponsoring visitor visas for expats will need to

provide proof of private health insurance coverage.

? The decision is expected to provide a fillip to Kuwait's health insurance sector; however, we have revised

our forecast for the wider non-life sector downwards this quarter, partly as a result of rising inflation and

falling household spending. Non-life premiums will expand by 6.2% in local currency terms in 2016 to

KWD322bn (USD1bn); premiums are forecast to reach KWD400bn by 2020 (USD1.2bn).

? Life premiums will grow at a slower pace though the forecast period, increasing by 5.0% in 2016 to

KWD184mn in local currency terms, and by 3% to USD600mn in USD terms. Premiums will reach

KWD212mn (USD663mn) in 2020.

Kuwait Insurance Report Q4 2016

Table of Contents

BMI Industry View 5
Table: Headline Insurance Forecasts (Kuwait 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Kuwait 2013-2020) 11
Table: Life Insurance Claims (Kuwait 2008-2015) 12
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Kuwait 2013-2020) 15
Table: Non-Life Insurance Claims (Kuwait 2009-2015) 15
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums by Product Line (Kuwait 2013-2020) 23
Industry Risk Reward Ratings 24
MENA Insurance Risk/Reward Index 24
Table: MENA Insurance Risk/Reward Index - Q416 25
Market Overview 26
Life Market Overview 26
The Product Offering 26
The Competitive Landscape 27
Non-Life Market Overview 28
The Product Offering 28
The Competitive Landscape 29
Company Profile 31
Al-Ahleia Insurance Company 31
Bahrain Kuwait Insurance Co (BKIC) 33
Gulf Insurance Group (GIG) 35
Kuwait Reinsurance Company 38
Warba Insurance 40
Methodology 42
Industry Forecast Methodology 42
Risk/Reward Index Methodology 45
Table: Indicators 47
Table: Weighting of Indicators 48

List of Tables

Table: Headline Insurance Forecasts (Kuwait 2013-2020)
Table: Life Premiums (Kuwait 2013-2020)
Table: Life Insurance Claims (Kuwait 2008-2015)
Table: Non-Life Premiums (Kuwait 2013-2020)
Table: Non-Life Insurance Claims (Kuwait 2009-2015)
Table: Non-Life Insurance Premiums by Product Line (Kuwait 2013-2020)
Table: MENA Insurance Risk/Reward Index - Q416
Table: Indicators
Table: Weighting of Indicators
  • A-Share Listed Insurance and Diversified Finance Companies - Profiles and Financial Data
    Published: 16-Mar-2017        Price: US 1000 Onwards        Pages: 95
    Insurance refers to a business centralizing funds through contracts to reimburse the economic loss of insurants. Different from traditional single financial types, diversified finance covers a wide range of investment projects and management services such as trust, leasing and factoring. In 2016, the primary insurance premium income in China was CNY 3.1 trillion and the compensation expenses were CNY 1.05 trillion. The insurance premium income from life insurance reached CNY 1,744.222......
  • Global Travel Insurance Market 2016 Industry Trend and Forecast 2021
    Published: 09-Mar-2017        Price: US 2800 Onwards        Pages: 159
    The Global Travel Insurance Market 2016 Industry Trend and Forecast 2021 is a professional and in-depth study on the current state of the Travel Insurance industry. The report provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Travel Insurance market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. ......
  • Global Usage-Based Insurance Market Research Report 2017
    Published: 08-Mar-2017        Price: US 2900 Onwards        Pages: 127
    Notes: Production, means the output of Usage-Based Insurance Revenue, means the sales value of Usage-Based Insurance This report studies Usage-Based Insurance in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering - Allianz SE - AXA - Progressive Corporation - Alls......
  • Global IoT Insurance Market Size, Status and Forecast 2022
    Published: 20-Feb-2017        Price: US 3300 Onwards        Pages: 103
    Notes: Production, means the output of IoT Insurance Revenue, means the sales value of IoT Insurance This report studies the global IoT Insurance market, analyzes and researches the IoT Insurance development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like - International Business Machines - SAP SE - Oracle - Google - Microsoft - Ci......
  • The Insurance Industry in Botswana Key Trends and Opportunities to 2020
    Published: 20-Feb-2017        Price: US 1450 Onwards        Pages: 104
    Synopsis Timetric's 'The Insurance Industry in Botswana, Key Trends and Opportunities to 2020' report provides a detailed analysis of the Botswanan insurance industry. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011-2015) and forecast periods (2015-2020). The report also gives a comprehensive overview of the ......
  • The Insurance Industry in Rwanda, Key Trends and Opportunities to 2020
    Published: 07-Feb-2017        Price: US 1450 Onwards        Pages: 89
    Synopsis Timetric's 'The Insurance Industry in Rwanda, Key Trends and Opportunities to 2020' report provides a detailed analysis of the Rwandan insurance industry. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011-2015) and forecast (2015-2020) periods. The report also gives a comprehensive overview of Rwanda's economy and......
  • The Rise of Big Data in Insurance
    Published: 31-Jan-2017        Price: US 2795 Onwards        Pages: 27
    Synopsis Data has undoubtedly altered the way the insurance industry works, enabling companies to access more information about customers and allowing them to offer the potential for cheaper premiums and rewards. Telematics, wearables, and connected homes are the main established examples. The health sector is where big data's impact is most evident, with wearable technology increasingly used by large insurers, which offer cheaper premiums, reward schemes and health ben......
  • Customer Segmentation in UK Insurance: Evolving Landscapes
    Published: 31-Jan-2017        Price: US 2795 Onwards        Pages: 25
    Financial services is evolving, and the launch of new products - most of which are technology-based - is becoming ever-more frequent. While insurance is steeped in tradition, the industry is beginning to change and evolve - which will be necessary to appeal to Evolving Landscapes consumers, many of whom see no room for traditional businesses in the future. Key Findings 50% of consumers fit into the Evolving Landscapes category, indicating that many rema......
  • The Insurance Industry in Mozambique, Key Trends and Opportunities to 2020
    Published: 24-Jan-2017        Price: US 1450 Onwards        Pages: 112
    Synopsis Timetric's 'The Insurance Industry in Mozambique, Key Trends and Opportunities to 2020' report provides a detailed analysis of the Mozambican insurance industry. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011-2015) and forecast periods (2015-2020). The report also gives a comprehensive overview of the Moza......
  • SERVICES
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - sales@rnrmarketresearch.com / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs