General Insurance in Kuwait, Key Trends and Opportunities to 2021

Published by Global Data on 30th April 2018 | Ref: 1107230 | This Report Is In Stock

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Introduction

General Insurance in Kuwait, Key Trends and Opportunities to 2021

Summary

GlobalData’s 'General Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti general insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.

It provides values for 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 (2012-2016) and forecast period (2016-2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Kuwaiti economy and demographics, explains the various types of natural hazard and their impact on the Kuwaiti insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’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.

This report provides in-depth market analysis, information and insights into the Kuwaiti General insurance segment, including -

- The Kuwaiti general segment’s detailed outlook by product category

- A comprehensive overview of the Kuwaiti economy and demographics

- A comparison of the Kuwaiti general insurance segment with its regional counterparts

- The various distribution channels in the Kuwaiti general insurance segment

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

- Details of the competitive landscape in the general insurance segment in Kuwait

- Details of regulatory policy applicable to the Kuwaiti insurance industry

Key Highlights

- The government is in the process of implementing a new insurance law, replacing the Insurance Law 1961. According to the draft law, the capital requirements for non-life insurers will be increased from the current requirement of KWD5.0 million (US.5 million) to KWD10.0 million (US.1 million).

- On February 5, 2018, the Ministry of Interior (MoI) announced the implementation of Article No. 41 of the Traffic Law, which permits the immediate settlement of minor traffic accident claims.

- On October 1, 2017, the Ministerial Decree pertaining to an increase in health fees for expatriate residents and visitors came into effect.

- In February 2016, the Kuwaiti government directed the Ministry of Health (MoH) to make liability cover for medical errors mandatory for health practitioners, including medical and dental professionals.

- According to the Ministerial Decree issued on April 19, 2015, foreign insurers are no longer required to establish a stockholding company with a minimum capital of KWD5.0 million (US.6 million) to operate insurance business respectively in Kuwait.

Scope

- This report provides a comprehensive analysis of the General insurance segment in Kuwait.

- It provides historical values for the Kuwaiti general insurance segment for the report’s 2012-2016 review period, and projected figures for the 2016-2021 forecast period.

- It offers a detailed analysis of the key categories in the Kuwaiti general insurance segment, and market forecasts to 2021.

- It provides a comparison of the Kuwaiti general insurance segment with its regional counterparts

- It analyzes the various distribution channels for general insurance products in Kuwait.

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

- It profiles the top general 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 general insurance segment, and each category within it.

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

- Assess the competitive dynamics in the general 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.

Table of Contents

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook

4.1 Regional Comparison

4.2 Segment Indicators

5 Outlook By Sub-Segment

5.1 Property Insurance

5.2 Motor Insurance

5.3 Liability Insurance

5.4 Marine, Aviation and Transit Insurance

5.5 Personal Accident and Health Insurance

6 Distribution Channel Outlook

7 Natural and Man-Made Hazards

7.1 Sandstorms

7.2 Cloudbursts/Floods

7.3 Climate Change

7.4 Exposure

8 Competitive Landscape

8.1 Company Profiles 69

9 Governance, Risk and Compliance

9.1 Legislation Overview and Historical Evolution

9.2 Latest Changes In Regulation

9.3 Legislation and Market Practice By Type Of Insurance

9.4 Compulsory Insurance

9.5 Supervision and Control

9.6 Non-Admitted Insurance Regulations

9.7 Company Registration and Operations

9.8 Taxation

9.9 Legal System

10 Databook

10.1 Policies and Premium

10.2 Claims and Expenses

10.3 Retail General Insurance By Product

10.4 Commercial General Insurance By Product

10.5 Property Insurance

10.6 Property Insurance By Product

10.7 Motor Insurance

10.8 Motor Insurance By Product

10.9 Liability Insurance

10.10 Marine, Aviation and Transit Insurance

10.11 Personal Accident and Health Insurance

10.12 Health Insurance

11 Definitions and Methodology

11.1 Definitions

11.2 Methodology

12 About GlobalData

12.1 Contact GlobalData

12.2 About GlobalData

12.3 GlobalData’S Services

12.4 Disclaimer

Additional Details

Publisher

Global Data

Publisher Information

Reference

1107230 | GDIS1664MR

Number of Pages

120

Report Format

PDF

This report is published by Global Data

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