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Reinsurance in Kuwait, Key Trends and Opportunities to 2019

  • October 2016
  • -
  • Timetric
  • -
  • 36 pages

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Synopsis
Timetric’s 'Reinsurance in Kuwait Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Kuwaiti reinsurance segment.

It provides values for key performance indicators such as written premium, reinsurance ceded and reinsurance accepted during the review period (2010–2014) and forecast period (2014–2019).

The report also analyses information pertaining to the competitive landscape in the country, gives a comprehensive overview of the Kuwaiti economy and demographics, and provides detailed analysis of natural hazards and their impact on the Kuwaiti insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise to enable reinsurers to identify segment dynamics and competitive advantages, and access profiles of reinsurers operating in the country.

Summary
Timetric’s 'Reinsurance in Kuwait Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Kuwaiti reinsurance segment, including:

- An outlook of the Kuwaiti reinsurance segment

- A comprehensive overview of the Kuwaiti economy and demographics

- Detailed analysis of natural hazards and their impact on the Kuwaiti insurance industry

- The competitive landscape in the Kuwaiti reinsurance segment

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

- It provides historical values for the Kuwaiti reinsurance 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 reinsurance segment, and market forecasts to 2019.

- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Kuwait, and the reinsurance segment's growth prospects.

- It analyzes various natural and man-made hazards and their impact on the Kuwaiti insurance industry


Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Kuwaiti reinsurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Kuwaiti reinsurance 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
- In terms of premium accepted, the Kuwaiti reinsurance segment grew at a review-period CAGR of 7.8%.

- The non-life segment significantly contributed to the growth of the reinsurance segment, ceding 45.2% of its written premium to reinsurance, followed by the life and personal accident and health segments, which ceded 41.3% and 36.3% respectively in 2014.

- The Kuwaiti insurance industry is dominated by domestic insurers, and the issue of underdeveloped underwriting skills is still prevalent. As a result, insurers cede premiums to reinsurers.

- The low risk of catastrophic losses and a demand for reinsurance encourages foreign reinsurers to enter the Kuwaiti reinsurance segment.

- Due to a shortage of expertise and the predominance of commercial lines, most primary insurers operating in the industry rely heavily on reinsurers.

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