Kuwait Insurance Report Q2 2016
BMI View: We remain of the view that much of the growth in the entire insurance sector will arise fromgreater purchase of (compulsory) health insurance by expatriates. Secular constraints to the expansion ofother non-life sub-sectors - and the life segment - will continue to prevail. Kuwaiti companies continue tolook for opportunities in other countries.
Key Updates And Forecasts
In many ways, Kuwait is an archetypal GCC region insurance market. It is, and will remain, underdevelopedby most metrics. In the larger, non-life segment, the main constraint is the small scale of mostof the companies. In the life segment, the main constraint is that Kuwaiti nationals do not need theofferings of the life companies (including international players and local composites). This is because ofthe comprehensive social security benefits that are available.
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