1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > Life Insurance in Kuwait, Key Trends and Opportunities to 2019

Synopsis
Timetric’s 'Life Insurance in Kuwait Key Trends and Opportunities to 2019' 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 (2010–2014) and forecast period (2014–2019).

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 Timetric’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.

Summary
Timetric’s 'Life Insurance in Kuwait Key Trends and Opportunities to 2019' 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

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 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Kuwaiti life insurance segment, and market forecasts to 2019.

- 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.

Key Highlights
- The Kuwaiti life insurance segment posted a review-period compound annual growth rate (CAGR) of 44.5%, driven by the country’s economic expansion, elderly population, rising life expectancy and the dominance of the term life category.

- The term life category accounted for 52.4% of the segment’s gross written premium in 2014.

- The government has been open to FDI since 2001, allowing foreign entities to own up to 100% of a commercial entity if the investment is made in the areas of insurance, infrastructure, housing, hospital, entertainment and tourism.

- The life segment is highly competitive, with the presence of domestic and foreign insurers.

- Kuwait’s aging population was a significant growth driver for the life insurance segment during the review period, a trend which is expected to persist over the forecast period.

Table Of Contents

Life Insurance in Kuwait, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Life Insurance Growth Prospects by Category
4.3 Individual Life Insurance
5 Analysis by Distribution Channel
6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Leading Companies in the Kuwaiti Life Insurance Segment
6.2.1 Gulf Insurance and Reinsurance Company - company overview
6.2.2 Al Ahleia Insurance Company SAK - company overview
6.2.3 Kuwait Insurance Company SAK - company overview
6.2.4 Enaya Insurance Company - company overview
6.2.5 Warba Insurance Company - company overview
7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulations
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.5 Supervision and Control
7.5.1 Ministry of Commerce and Industry (MoCI)
7.6 Non-Admitted Insurance Regulations
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and penalties
7.7 Company Registration and Operations
7.7.1 Types of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margins
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)
8 Definitions and Methodology
8.1 Definitions
8.2 Methodology
9 About Timetric
9.1 Contact Timetric
9.2 About Timetric
9.3 Timetric's Services
9.4 Disclaimer


List of Tables
Table 1: Kuwaiti Life Insurance - Key Facts, 2014
Table 2: List of Key Insurers in the Kuwaiti Life Insurance Segment, 2014
Table 3: Kuwaiti Government Credit Ratings
Table 4: Kuwaiti Life Insurance - Gross Written Premium by Category (KWD Million), 2010-2014
Table 5: Kuwaiti Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 6: Kuwaiti Life Insurance - Gross Written Premium by Category (KWD Million), 2014-2019
Table 7: Kuwaiti Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 8: Kuwaiti Life Insurance - Paid Claims (KWD Million), 2010-2014
Table 9: Kuwaiti Life Insurance - Paid Claims (KWD Million), 2014-2019
Table 10: Kuwaiti Life Insurance - Incurred Loss (KWD Million), 2010-2014
Table 11: Kuwaiti Life Insurance - Incurred Loss (KWD Million), 2014-2019
Table 12: Kuwaiti Life Insurance - Net Written Premium (Percentage of Gross Written Premium), 2010-2014
Table 13: Kuwaiti Life Insurance - Net Written Premium (Percentage of Gross Written Premium), 2014-2019
Table 14: Kuwaiti Life Insurance - Total Assets (KWD Million), 2010-2014
Table 15: Kuwaiti Life Insurance - Total Assets (KWD Million), 2014-2019
Table 16: Kuwaiti Life Insurance - Total Investment Income (KWD Million), 2010-2014
Table 17: Kuwaiti Life Insurance - Total Investment Income (KWD Million), 2014-2019
Table 18: Kuwaiti Life Insurance - Net Written Premium (KWD Million), 2010-2014
Table 19: Kuwaiti Life Insurance - Net Written Premium (KWD Million), 2014-2019
Table 20: Kuwaiti Individual Life Insurance - Gross Written Premium by Category (KWD Million), 2010-2014
Table 21: Kuwaiti Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 22: Kuwaiti Individual Life Insurance - Gross Written Premium by Category (KWD Million), 2014-2019
Table 23: Kuwaiti Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 24: Kuwaiti Individual Life Insurance - Direct Written Premium by Category (KWD Million), 2010-2014
Table 25: Kuwaiti Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
Table 26: Kuwaiti Individual Life Insurance - Direct Written Premium by Category (KWD Million), 2014-2019
Table 27: Kuwaiti Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
Table 28: Kuwaiti Individual Endowment Insurance - Direct Written Premium (KWD Million), 2010-2014
Table 29: Kuwaiti Individual Endowment Insurance - Direct Written Premium (KWD Million), 2014-2019
Table 30: Kuwaiti Individual Term Life Insurance - Direct Written Premium (KWD Million), 2010-2014
Table 31: Kuwaiti Individual Term Life Insurance - Direct Written Premium (KWD Million), 2014-2019
Table 32: Kuwaiti Other Individual Life Insurance - Direct Written Premium (KWD Million), 2010-2014
Table 33: Kuwaiti Other Individual Life Insurance - Direct Written Premium (KWD Million), 2014-2019
Table 34: List of Key Insurers in the Kuwait Life Insurance Segment, 2014
Table 35: Gulf Insurance and Reinsurance Company - Key Facts
Table 36: Gulf Insurance and Reinsurance Company - Key Financials (KWD Million), 2010-2014
Table 37:Al Ahleia Insurance Company SAK - Key Facts
Table 38: Al Ahleia Insurance Company SAK - Key Financials (KWD Million), 2010-2014
Table 39: Kuwait Insurance Company SAK - Key Facts
Table 40:Enaya Insurance Company - Key Facts
Table 41: Warba Insurance Company - Key Facts
Table 42: Kuwait - Insurance Regulatory Framework Key Features
Table 43: Kuwait - Life Insurance Regulatory Framework
Table 44: Kuwait - Property Insurance Regulatory Framework
Table 45: Kuwait - Motor Insurance Regulatory Framework
Table 46: Kuwait - Liability Insurance Regulatory Framework
Table 47: Kuwait - Corporate Tax Rates for the Financial Year 2016
Table 48: Insurance Industry Definitions


List of Figures
Figure 1: Kuwaiti Real GDP (KWD Billion), 2010-2019
Figure 2: KWD-US$ Exchange Rate, 2010-2019
Figure 3: Kuwaiti Consumer Price Inflation, 2010-2019
Figure 4: Kuwaiti Current Account Balance as Percentage of GDP (%), 2010-2015
Figure 5: Kuwaiti Unemployment Rate, 2010-2019
Figure 6: Kuwaiti Population by Age Group, 1995-2025
Figure 7: Kuwaiti Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Kuwaiti Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Kuwaiti Life Insurance - Gross Written Premium by Category (KWD Million), 2010-2019
Figure 10: Kuwaiti Life Insurance - Gross Written Premium by Category (Percentage Share), 2014 and 2019
Figure 11: Kuwaiti Life Insurance - Gross Written Premium Dynamics by Segment (2010-2019)
Figure 12: Kuwaiti Life Insurance - Paid Claims (KWD Million), 2010-2014
Figure 13: Kuwaiti Life Insurance - Paid Claims (KWD Million), 2014-2019
Figure 14: Kuwaiti Life Insurance - Incurred Loss (KWD Million), 2010-2014
Figure 15: Kuwaiti Life Insurance - Incurred Loss (KWD Million), 2014-2019
Figure 16: Kuwaiti Life Insurance - Net Written Premium (Percentage of Gross Written Premium), 2010-2014
Figure 17: Kuwaiti Life Insurance - Net Written Premium (Percentage of Gross Written Premium), 2014-2019
Figure 18: Kuwaiti Life Insurance - Total Assets (KWD Million), 2010-2014
Figure 19: Kuwaiti Life Insurance - Total Assets (KWD Million), 2014-2019
Figure 20: Kuwaiti Life Insurance - Total Investment Income (KWD Million), 2010-2014
Figure 21: Kuwaiti Life Insurance - Total Investment Income (KWD Million), 2014-2019
Figure 22: Kuwaiti Life Insurance - Net Written Premium (KWD Million), 2010-2014
Figure 23: Kuwaiti Life Insurance - Net Written Premium (KWD Million), 2014-2019
Figure 24: Kuwaiti Life Insurance - Penetration (Ratio of Direct Premium to GDP), 2010-2014
Figure 25: Kuwaiti Life Insurance - Density (Direct Premium per Capita), 2010-2014
Figure 26: Kuwaiti Life Insurance - Total Investments (KWD Million), 2010-2014
Figure 27: Kuwaiti Individual Life Insurance - Gross Written Premium by Category (KWD Million), 2010-2019
Figure 28: Kuwaiti Individual Life Insurance - Gross Written Premium by Category (Percentage Share), 2014 and 2019
Figure 29: Kuwaiti Individual Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 30: Kuwaiti Individual Life Insurance - Direct Written Premium by Category (KWD Million), 2010-2019
Figure 31: Kuwaiti Individual Life Insurance - Direct Written Premium by Category (Percentage Share), 2014 and 2019
Figure 32: Kuwaiti Individual Endowment Insurance - Direct Written Premium (KWD Million), 2010-2014
Figure 33: Kuwaiti Individual Endowment Insurance - Direct Written Premium (KWD Million), 2014-2019
Figure 34: Kuwaiti Individual Term Life Insurance - Direct Written Premium (KWD Million), 2010-2014
Figure 35: Kuwaiti Individual Term Life Insurance - Direct Written Premium (KWD Million), 2014-2019
Figure 36: Kuwaiti Other Individual Life Insurance - Direct Written Premium (KWD Million), 2010-2014
Figure 37: Kuwaiti Other Individual Life Insurance - Direct Written Premium (KWD Million), 2014-2019
Figure 38: Kuwait - Insurance Regulatory Frameworks for Company Registration and Operation

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Fraud Detection and Prevention Market by Solution, Application Areas, Service, End-User, Vertical - Global Forecast to 2021

Fraud Detection and Prevention Market by Solution, Application Areas, Service, End-User, Vertical - Global Forecast to 2021

  • $ 7150
  • Industry report
  • September 2016
  • by MarketsandMarkets

“Rapid increase in mobile banking will drive the FDP market” The Fraud Detection and Prevention (FDP) market size is estimated to grow from USD 14.36 billion in 2016 to USD 33.19 billion by 2021, at ...

Customer Experience Management Study—Malaysia’s Life Insurance Market, 2015

Customer Experience Management Study—Malaysia’s Life Insurance Market, 2015

  • $ 4950
  • Industry report
  • September 2016
  • by Frost & Sullivan

Benchmarking the Industry Excellence in Delivering Superior Customer Experience Customer experience is the accumulation of customers’ experiences throughout their journey with the supplier, across any ...

Customer Experience Management Study—Malaysia’s Health Insurance Sector 2015

Customer Experience Management Study—Malaysia’s Health Insurance Sector 2015

  • $ 4950
  • Industry report
  • September 2016
  • by Frost & Sullivan

Benchmarking Industry Excellence in Delivering a Superior Customer Experience Customer experience is the accumulation of customers’ experiences throughout their journey with the supplier, across any ...


ref:plp2016

Reportlinker.com © Copyright 2016. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.