Reinsurance in Kuwait, Key Trends and Opportunities to 2017

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Date: 1-May-2014
No. of pages: 65
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Synopsis

The report provides in depth market analysis, information and insights into the Kuwaiti reinsurance segment, including:

  • The Kuwaiti reinsurance segment’s growth prospects by reinsurance categories
  • Key trends and drivers for the reinsurance segment
  • The Kuwaiti reinsurance segment’s growth prospects by reinsurance ceded from direct insurance segments
  • The competitive landscape in the Kuwaiti reinsurance segment

Summary

The Kuwaiti reinsurance segment comprised two companies in 2012: Kuwait Reinsurance (Kuwait Re), a conventional reinsurer, and Al Fajer Retakaful (Al Fajer Re), a retakaful company. Both companies are working to accelerate their activities and are driven by demand for reinsurance in the insurance industry. Exposure to reinsurance of Kuwaiti insurers is relatively high, although retention is low. Treaty reinsurance accounted for 89.0% of the total reinsurance written premium in 2012, while facultative reinsurance accounted for 11.0%.

Scope

This report provides a comprehensive analysis of the reinsurance segment in Kuwait:

  • It provides historical values for Kuwait’s reinsurance segment for the report’s 2008-2012 review period and projected figures for the 2012-2017 forecast period.
  • It offers a detailed analysis of the key sub-segments in Kuwait’s reinsurance segment, along with market forecasts until 2017.
  • It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Kuwait and its growth prospects.

Reasons To Buy

  • Make strategic business decisions using in depth historic and forecast market data related to the Kuwaiti reinsurance segment and each sector within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Kuwaiti reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Kuwaiti insurance industry and its impact on companies and the market’s future

Key Highlights

  • The reinsurance segment posted a review-period CAGR of 19.1%
  • Treaty reinsurance accounted for 89.0% of the total reinsurance written premium in 2012, while facultative reinsurance accounted for 11.0%
  • The significant contribution to growth in reinsurance came from the personal accident and health segment, which ceded 55.2% of its written premium to reinsurance
  • In Kuwait, insurers cede a large percentage of their gross written premium to reinsurers, compared to other companies worldwide

Reinsurance in Kuwait, Key Trends and Opportunities to 2017

Table of Contents

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 Kuwaiti Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2008-2017

4 Reinsurance Growth Dynamics and Challenges
4.1 Reinsurance Segment Size, 2008-2017
4.2 Reinsurance Segment Size by Type of Insurance, 2008-2017

5 Key Industry Trends and Drivers
5.1 Fundamental Business Drivers
5.2 Life Insurance Segment Drivers
5.3 Non-Life Insurance Segment Drivers
5.4 Personal Accident and Health Insurance Segment Drivers

6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Companies in the Kuwaiti Reinsurance Segment
6.3 Kuwait Reinsurance - Company Overview
6.3.1 Kuwait Reinsurance - key facts
6.3.2 Kuwait Reinsurance - key financials

7 Business Environment and Country Risk
7.1 Business Confidence
7.1.1 Market capitalization trend - Kuwait Stock Exchange, Kuwait
7.2 Economic Performance
7.2.1 GDP at constant prices (US$)
7.2.2 GDP per capita at constant prices (US$)
7.2.3 GDP at current prices (US$)
7.2.4 GDP per capita at current prices (US$)
7.2.5 GDP by key sectors
7.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
7.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
7.2.8 Manufacturing net output at current prices (US$)
7.2.9 Manufacturing net output at current prices as a percentage of GDP
7.2.10 Mining, manufacturing and utilities at current prices (US$)
7.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
7.2.12 Construction net output at current prices, (US$)
7.2.13 Construction net output at current prices as a percentage of GDP
7.2.14 Inflation rate
7.2.15 Exports as a percentage of GDP
7.2.16 Imports as a percentage of GDP
7.2.17 Merchandise exports growth
7.2.18 Merchandise imports growth
7.2.19 Annual average exchange rate KWD-US$
7.3 Infrastructure
7.3.1 Commercial vehicle exports - total value
7.3.2 Commercial vehicle imports - total value
7.3.3 Automotive exports - total value
7.3.4 Automotive imports - total value
7.3.5 Total internet subscribers
7.4 Labor Force
7.4.1 Labor force
7.5 Demographics
7.5.1 Gross national disposable income (US$)
7.5.2 Total population
7.5.3 Urban and rural populations
7.5.4 Age distribution of the total population

8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer

List of Tables

Table 1: Insurance Industry Definitions
Table 2: Kuwaiti Insurance - Overall Written Premium by Segment (KWD Million), 2008-2012
Table 3: Kuwaiti Insurance - Overall Written Premium by Segment (US$ Million), 2008-2012
Table 4: Kuwaiti Insurance - Overall Written Premium by Segment (KWD Million), 2012-2017
Table 5: Kuwaiti Insurance - Overall Written Premium by Segment (US$ Million), 2012-2017
Table 6: Kuwaiti Insurance - Segmentation (% Share), 2008-2017
Table 7: Reinsurance in Kuwait by Category (KWD Million), 2008-2012
Table 8: Reinsurance in Kuwait by Category (US$ Million), 2008-2012
Table 9: Reinsurance in Kuwait by Category (KWD Million), 2012-2017
Table 10: Reinsurance in Kuwait by Category (US$ Million), 2012-2017
Table 11: Kuwaiti Premium Ceded to Reinsurance by Insurance Segment (KWD Million), 2008-2012
Table 12: Kuwaiti Premium Ceded to Reinsurance by Insurance Segment (US$ Million), 2008-2012
Table 13: Kuwaiti Premium Ceded to Reinsurance by Insurance Segment (KWD Million), 2012-2017
Table 14: Kuwaiti Premium Ceded to Reinsurance by Insurance Segment (US$ Million), 2012-2017
Table 15: Kuwaiti Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 16: Kuwaiti Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 17: List of Key Insurers in the Kuwait Reinsurance Segment, 2012
Table 18: Kuwait Reinsurance, Key Facts
Table 19: Kuwait Reinsurance, Key Financials (KWD Million), 2008-2012

List of Figures

Figure 1: Kuwaiti Insurance - Overall Written Premium by Segment (KWD Million), 2008-2017
Figure 2: Kuwaiti Insurance - Dynamics by Segment (%), 2008-2017
Figure 3: Kuwaiti Premium Ceded to Reinsurance by Category (KWD Million), 2008-2017
Figure 4: Kuwaiti Premium Ceded to Reinsurance by Category (% Share), 2012 and 2017
Figure 5: Kuwaiti Reinsurance - Dynamics by Category (%), 2008-2017
Figure 6: Kuwaiti Premium Ceded to Reinsurance by Insurance Segment (KWD Million), 2008-2017
Figure 7: Kuwaiti Reinsurance - Dynamics by Insurance Segment (%), 2008-2017
Figure 8: Kuwaiti Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 9: Kuwaiti Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 10: Kuwait Stock Exchange Market Capitalization (US$ Billion), 2008-2012
Figure 11: Kuwaiti GDP at Constant Prices (US$ Billion), 2007-2011
Figure 12: Kuwaiti GDP Per Capita at Constant Prices (US$), 2007-2011
Figure 13: Kuwaiti GDP at Current Prices (US$ Billion), 2008-2012
Figure 14: Kuwaiti GDP Per Capita at Current Prices (US$), 2008-2012
Figure 15: Kuwaiti GDP by Key Sectors (%) 2007 and 2011
Figure 16: Kuwaiti Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices (US$ Billion), 2007-2011
Figure 17: Kuwaiti Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices as a Percentage of GDP (%), 2007-2011
Figure 18: Kuwaiti Manufacturing Net Output at Current Prices (US$ Billion), 2007-2011
Figure 19: Kuwaiti Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007-2011
Figure 20: Kuwaiti Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007-2011
Figure 21: Kuwaiti Mining, Manufacturing and Utilities Net Output at Current Prices as a Percentage of GDP (%), 2007-2011
Figure 22: Kuwaiti Construction Net Output at Current Prices (US$ Billion), 2007-2011
Figure 23: Kuwaiti Construction Output at Current Prices as a Percentage of GDP (%), 2007-2011
Figure 24: Kuwaiti Inflation Rate (%), 2008-2012
Figure 25: Kuwaiti Exports as a Percentage of GDP (%), 2007-2011
Figure 26: Kuwaiti Imports as a Percentage of GDP (%), 2007-2011
Figure 27: Kuwaiti Merchandise Exports Growth (%), 2008-2011
Figure 28: Kuwaiti Merchandise Imports Growth (%), 2008-2011
Figure 29: Kuwaiti Annual Average Exchange Rate US$-KWD, 2008-2012
Figure 30: Kuwaiti Commercial Vehicle Exports - Total Value (US$ Million), 2007-2010
Figure 31: Kuwaiti Commercial Vehicle Imports - Total Value (US$ Billion), 2007-2010
Figure 32: Kuwaiti Automotive Exports - Total Value (US$ Billion), 2007-2010
Figure 33: Kuwaiti Automotive Imports - Total Value (US$ Billion), 2007-2010
Figure 34: Kuwaiti Internet Subscriptions (Million), 2008-2012
Figure 35: Kuwaiti Size of Labor Force (Million), 2008-2012
Figure 36: Kuwaiti Gross National Disposable Income (US$ Billion), 2007-2011
Figure 37: Kuwaiti Total Population (Million), 2008-2012
Figure 38: Kuwaiti Urban and Rural Populations (%), 2008-2012
Figure 39: Kuwaiti Population Distribution by Age (%), 2008-2012

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