Life Insurance in Kuwait, Key Trends and Opportunities to 2017, New Report Launched

Life insurance was the smallest segment in the Kuwaiti insurance industry in 2012, accounting for 19.3% of the industry’s total written premium. The segment’s value increased during the review period (2008–2012) at a compound annual growth rate (CAGR) of 10.5% . It is expected to record a CAGR of 8.2% over the forecast period. Insurance brokers and agencies were the main channels of distribution for life insurance products in Kuwait in 2012, accounting for 48.0% and 39.6% of the new business written premium respectively. This growth can be attributed to an increase in awareness about life insurance, and rising disposable incomes.

The report provides in-depth market analysis, information and insights into the Kuwaiti life insurance segment, including:

• The Kuwaiti life insurance segment’s growth prospects by life insurance categories
• Key trends and drivers for the life insurance segment
• The various distribution channels in the Kuwaiti life insurance segment
• The detailed competitive landscape in the life insurance segment in Kuwait
• Detailed regulatory policies of the Kuwaiti insurance industry
• A description of the life reinsurance segment in Kuwait
• Porter's Five Forces analysis of the life insurance segment
• A benchmarking section on the Kuwaiti life insurance segment in comparison with other countries in the Middle-East region

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 2008–2012 review period and projected figures for the 2012–2017 forecast period.
• It offers a detailed analysis of the key categories in the Kuwaiti life insurance segment, along with market forecasts until 2017.
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
• It analyses the various distribution channels for life insurance products in Kuwait.
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Kuwait for the life insurance business.
• It provides a detailed analysis of the reinsurance segment in Kuwait and its growth prospects.
• 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 within the Kuwaiti life insurance segment
• Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Kuwaiti insurance industry and its impact on companies and the market's future

Key Highlights

• Life insurance was the smallest segment in the Kuwaiti insurance industry in 2012, accounting for 19.3% of the industry’s total written premium
• The growth was driven by rising consumer awareness of life insurance, and increases in the population and disposable income
• Low penetration provides a further opportunity for life insurers to access the untapped market
• The country has a strong pension system which poses a threat to private pension products in the life segment
• There are 34 companies in the country, of which 23 are national and 11 are foreign

Spanning Over 167 pages, 84 Tables and 110 Figures “Life Insurance in Kuwait, Key Trends and Opportunities to 2017” report Provide Executive Summary, The Middle East Region Market Dynamics, Life Insurance – Regional Benchmarking, Kuwaiti Insurance Industry Attractiveness, Life Insurance Outlook, Analysis by Distribution Channel, Porter’s Five Forces Analysis – Kuwaiti Life Insurance, Reinsurance Growth Dynamics and Challenges, Governance, Risk and CompliancE, Competitive Landscape and Strategic Insights, Business Environment and Country Risk, Appendix. This report covered 6 Companies - Gulf Life Insurance Company, Al Ahleia Insurance Company SAK, MetLife Alico Kuwait, Kuwait Insurance Company SAK, Warba Insurance Company, Enaya Insurance Company.

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