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Synopsis
Timetric’s 'Personal Accident and Health 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, combined ratio, 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 'Personal Accident and Health Insurance in Kuwait Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Kuwaiti personal accident and health insurance segment, including:

- An overview of the Kuwaiti personal accident and health insurance segment

- The Kuwaiti personal accident and health insurance segment’s growth prospects by category

- A comprehensive overview of the Kuwaiti economy and demographics

- A comparison of the Kuwaiti personal accident and health insurance segment with its regional counterparts

- The various distribution channels in the Kuwaiti personal accident and health insurance segment

- Details of the competitive landscape in the personal accident and health insurance segment in Kuwait

- Details of regulatory policy applicable to the Kuwaiti insurance industry

Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Kuwait:

- It provides historical values for the Kuwaiti personal accident and health 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 personal accident and health insurance segment, and market forecasts to 2019.

- It provides a comparison of the Kuwaiti personal accident and health insurance segment with its regional counterparts

- It provides an overview of the various distribution channels for personal accident and health insurance products in Kuwait.

- It profiles the top personal accident and health 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 personal accident and health insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Kuwaiti personal accident and health insurance segment.

- Assess the competitive dynamics in the personal accident and health 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 personal accident and health segment was the smallest segment in the Kuwaiti insurance industry in 2014, accounting for 3.8% of the industry’s gross written premium.

- In January 2016, the Kuwaiti Economics Committee in the Supreme Council for Planning and Development proposed a two-layered alternative health plan for expatriates.

- The segment’s penetration rate stood at 0.04% in 2014, and is much lower than other countries in the Gulf Corporation Council (GCC) region, such as Saudi Arabia (0.56%) and Bahrain (0.24%).

- In 2014, personal accident and health insurers ceded 36.3% of their risk to reinsurers.

- The Insurance Department is expected to develop its online portal through the Ministry of Commerce in 2016, to keep pace with global technological developments.

Table Of Contents

Personal Accident and Health 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 Personal Accident and Health Insurance Growth Prospects by Category
4.2.1 Health insurance
5 Analysis by Distribution Channel
6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Leading Companies in the Kuwaiti Personal Accident and Health Insurance Segment
6.3 Company Name - Company Overview
6.3.1 Gulf Insurance and Reinsurance Company - company overview
6.3.2 Al Ahleia Insurance Company SAK - company overview
6.3.3 Kuwait Insurance Company SAK - company overview
6.3.4 Enaya Insurance Company - company overview
6.3.5 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 Personal Accident and Health Insurance - Key Facts, 2014
Table 2: List of Key Insurers in the Kuwaiti Personal Accident and Health Insurance, 2014
Table 3: Kuwaiti Government Credit Ratings
Table 4: Kuwaiti Personal Accident and Health Insurance - Net Written Premium (KWD Million), 2010-2014
Table 5: Kuwaiti Personal Accident and Health Insurance - Net Written Premium (KWD Million), 2014-2019
Table 6: Kuwaiti Personal Accident and Health Insurance - Paid Claims (KWD Million), 2010-2014
Table 7: Kuwaiti Personal Accident and Health Insurance - Paid Claims (KWD Million), 2014-2019
Table 8: Kuwaiti Personal Accident and Health Insurance - Incurred Loss (KWD Million), 2010-2014
Table 9: Kuwaiti Personal Accident and Health Insurance - Incurred Loss (KWD Million), 2014-2019
Table 10: Kuwaiti Personal Accident and Health Insurance - Total Assets (KWD Million), 2010-2014
Table 11: Kuwaiti Personal Accident and Health Insurance - Total Assets (KWD Million), 2014-2019
Table 12: Kuwaiti Personal Accident and Health Insurance - Total Investment Income (KWD Million), 2010-2014
Table 13: Kuwaiti Personal Accident and Health Insurance - Total Investment Income (KWD Million), 2014-2019
Table 14: Kuwaiti Personal Accident and Health Insurance - Net Written Premium (Percentage of Gross Written Premium), 2010-2014
Table 15: Kuwaiti Personal Accident and Health Insurance - Net Written Premium (Percentage of Gross Written Premium), 2014-2019
Table 16: Kuwaiti Health Insurance - Direct Written Premium (KWD Million), 2010-2014
Table 17: Kuwaiti Health Insurance - Direct Written Premium (KWD Million), 2014-2019
Table 18: Kuwaiti Health Insurance - Paid Claims (KWD Million), 2010-2014
Table 19: Kuwaiti Health Insurance - Paid Claims (KWD Million), 2014-2019
Table 20: Kuwaiti Health Insurance - Net Written Premium (KWD Million), 2010-2014
Table 21: Kuwaiti Health Insurance - Net Written Premium (KWD Million), 2014-2019
Table 22: List of Key Insurers in the Kuwaiti Personal Accident and Health Insurance, 2014
Table 23: Gulf Insurance and Reinsurance Company - Key Facts
Table 24: Gulf Insurance and Reinsurance Company - Key Financials (KWD Million), 2010-2014
Table 25:Al Ahleia Insurance Company SAK - Key Facts
Table 26: Al Ahleia Insurance Company SAK - Key Financials (KWD Million), 2010-2014
Table 27: Kuwait Insurance Company SAK - Key Facts
Table 28:Enaya Insurance Company - Key Facts
Table 29: Warba Insurance Company - Key Facts
Table 30: Kuwait - Insurance Regulatory Framework Key Features
Table 31: Kuwait - Life Insurance Regulatory Framework
Table 32: Kuwait - Property Insurance Regulatory Framework
Table 33: Kuwait - Motor Insurance Regulatory Framework
Table 34: Kuwait - Liability Insurance Regulatory Framework
Table 35: Kuwait - Corporate Tax Rates for the Financial Year 2016
Table 36: 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 Personal Accident and Health Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Kuwaiti Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Kuwaiti Personal Accident and Health Insurance - Net Written Premium (KWD Million), 2010-2014
Figure 10: Kuwaiti Personal Accident and Health Insurance - Net Written Premium (KWD Million), 2014-2019
Figure 11: Kuwaiti Personal Accident and Health Insurance - Paid Claims (KWD Million), 2010-2014
Figure 12: Kuwaiti Personal Accident and Health Insurance - Paid Claims (KWD Million), 2014-2019
Figure 13: Kuwaiti Personal Accident and Health Insurance - Incurred Loss (KWD Million), 2010-2014
Figure 14: Kuwaiti Personal Accident and Health Insurance - Incurred Loss (KWD Million), 2014-2019
Figure 15: Kuwaiti Personal Accident and Health Insurance - Total Assets (KWD Million), 2010-2014
Figure 16: Kuwaiti Personal Accident and Health Insurance - Total Assets (KWD Million), 2014-2019
Figure 17: Kuwaiti Personal Accident and Health Insurance - Total Investment Income (KWD Million), 2010-2014
Figure 18: Kuwaiti Personal Accident and Health Insurance - Total Investment Income (KWD Million), 2014-2019
Figure 19: Kuwaiti Personal Accident and Health Insurance - Net Written Premium (Percentage of Gross Written Premium), 2010-2014
Figure 20: Kuwaiti Personal Accident and Health Insurance - Net Written Premium (Percentage of Gross Written Premium), 2014-2019
Figure 21: Kuwaiti Personal Accident and Health Insurance Penetration (Ratio of Direct Premiums to GDP), 2010-2014
Figure 22: Kuwaiti Personal Accident and Health Insurance - Density (Direct Premium per Capita), 2010-2014
Figure 23: Kuwaiti Health Insurance - Direct Written Premium (KWD Million), 2010-2014
Figure 24: Kuwaiti Health Insurance - Direct Written Premium (KWD Million), 2014-2019
Figure 25: Kuwaiti Health Insurance - Paid Claims (KWD Million), 2010-2014
Figure 26: Kuwaiti Health Insurance - Paid Claims (KWD Million), 2014-2019
Figure 27: Kuwaiti Health Insurance - Net Written Premium (KWD Million), 2010-2014
Figure 28: Kuwaiti Health Insurance - Net Written Premium (KWD Million), 2014-2019
Figure 29: Kuwait - Insurance Regulatory Frameworks for Company Registration and Operation

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