Kuwait Insurance Report Q2 2015

Business Monitor International
February 11, 2015
71 Pages - SKU: BMI5466952
Countries covered: Kuwait

Kuwait Insurance Report Q2 2015

BMI View: Growth in Kuwait's non-life insurance sector is expected to be robust, outpacing the morelimited growth forecasts for the country's smaller life insurance market. Overall however the country'sinsurance market will remain small by regional and global standards with significant cultural barriersimpeding growth potential across both life and non-life insurance and limiting insurance marketpenetration and density.

Kuwait's non-life market is roughly three times the size of the life insurance segment in terms of grosspremiums written, and, taking into account the relative size of the non-life segment relative to its lifecounterpart, it will remain the key source of growth for the sector as a whole. Health insurance and motorvehicle insurance remain the dominant lines in the non-life insurance, and health insurance in particular willbe the driving force behind premiums growth over 2015. Private health insurance is compulsory for foreignresidents, and the government is increasingly scaling back the provision of public healthcare which isincreasing demand for a range of private health insurance products, creating opportunities for insurers andhealthcare providers alike.



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