Life Insurance in Kuwait, Key Trends and Opportunities to 2021

Life Insurance in Kuwait, Key Trends and Opportunities to 2021

  • June 2018 •
  • 83 pages •
  • Report ID: 5644292 •
  • Format: PDF
Life Insurance in Kuwait, Key Trends and Opportunities to 2021

Summary
GlobalData’s ’Life Insurance in Kuwait, Key Trends and Opportunities to 2021’ report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.

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 period (2012-2016) and forecast period (2016-2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Kuwaiti economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

This report provides in-depth market analysis, information and insights into the Kuwaiti life insurance segment, including -
- An overview of the Kuwaiti life insurance segment
- The Kuwaiti life insurance segment’s growth prospects by category
- A comprehensive overview of the Kuwaiti economy and demographics
- A comparison of the Kuwaiti life insurance segment with its regional counterparts
- The various distribution channels in the Kuwaiti life insurance segment
- Details of the competitive landscape in the life insurance segment in Kuwait
- Details of regulatory policy applicable to the Kuwaiti insurance industry

Key Highlights
- The government is in the process of implementing a new insurance law, replacing the Insurance Law 1961.A draft law was prepared in 2012, though it is yet to be approved and implemented.

According to the draft insurance law, the capital requirements for life insurers will be increased from the current requirement of KWD5.0 million (US$16.5 million) to KWD10.0 million (US$33.1 million).
- In November 2017, National Life and General Insurance, an Oman-based insurer, obtained a license to establish a branch in Kuwait.

Scope
- This report provides a comprehensive analysis of the life insurance segment in Kuwait.
- It provides historical values for the Kuwaiti life insurance segment for the report’s 2012-2016 review period, and projected figures for the 2016-2021 forecast period.
- It offers a detailed analysis of the key categories in the Kuwaiti life insurance segment, and market forecasts to 2021.
- It provides a comparison of the Kuwaiti life insurance segment with its regional counterparts.
- It analyzes the various distribution channels for life insurance products in Kuwait.
- It profiles the top life insurance companies in Kuwait and outlines the key regulations affecting them.

Reasons to buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Kuwaiti life insurance segment, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Kuwaiti life insurance segment.
- Assess the competitive dynamics in the life insurance segment.
- Identify growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Kuwaiti insurance industry, and their impact on companies and the industry’s future.
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