non-life insurance in kuwait, key trends and opportunities to 2017

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Non-Life Insurance in Kuwait, Key Trends and

Opportunities to 2017

Category : Banking & Finance

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Introduction to Report

Launch Date: May 1, 2014

Number of Pages: 226

Geography Coverage: Kuwait

Available Format: PDF

Price For Single User License: USD 1,950

Price For Site License: USD 3,900

Price For Global User License: USD 5,850

Delivery Time: Within 24 Hours (During Working Days)



About the Report

Non-Life Insurance in Kuwait, Key Trends and Opportunities to 2017 report provides in depth market analysis, information and insights into the Kuwaiti non-life insurance segment.

Agencies and direct marketing were the main channels of distribution for non-life products in Kuwait, accounting for 40.1% and 25.6% of the new business written premium respectively in 2012. The growth in non-life insurance can be attributed to increased construction activity and mandatory motor insurance.



Research Findings

Non-life insurance was the largest segment in the Kuwaiti insurance industry in 2012, accounting for 61.0% of total industry premiums. The segment’s value increased during the review period (2008–2012) at a compound annual growth rate (CAGR) of 6.6% .

Non-life insurance is expected to retain its position as the largest segment over the forecast period (2012–2017). Motor insurance was the largest category within the segment in terms of written premium during the review period. The category accounted for 39.7% of the overall non-life insurance written premium.



Research Findings Continues…

Non-life insurance was the largest segment in the Kuwaiti insurance industry in 2012, accounting for 61.0% of its total gross written premium

The Kuwaiti non-life segment is highly dependent on reinsurance, largely as a result of a shortage of in-house underwriting skills, and also due to the high minimum capital requirement imposed by the MoCI

The industry’s liberal regulatory environment is expected to drive non-life insurance over the forecast period

Agencies are the key distribution channel for the Kuwaiti non-life insurance segment in terms of written premium new business generated; they accounted for 41.7% of the total written premium new business in 2012

In 2013, there were 34 insurance companies in Kuwait, of which 23 were domestic and 11 were foreign



Scope

It provides historical values for Kuwait’s non-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 categiories in Kuwait’s non-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 non-life insurance products in Kuwait.

Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Kuwait for the non-life insurance segment.

It provides a detailed analysis of the reinsurance segment in Kuwait and its growth prospects.

It profiles the top non-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 non-life insurance segment and each category within it

Understand the demand-side dynamics, key market trends and growth opportunities within the Kuwaiti non-life insurance segment

Assess the competitive dynamics in the non-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



Report Coverage

1. Executive Summary2. Introduction3. The Middle East Region Market Dynamics4. Non-Life Insurance – Regional Benchmarking5. Kuwaiti Insurance Industry Attractiveness6. Non-Life Insurance Outlook7. Analysis by Distribution Channels8. Porter’s Five Forces Analysis – Kuwaiti Non-Life

Insurance9. Reinsurance Growth Dynamics and Challenges10.Governance, Risk and Compliance11.Competitive Landscape and Strategic Insights12.Business Environment and Country Risk13.Appendix

For more details regarding Report coverage see the last slide




Company Coverage

1. Gulf Insurance Company2. Kuwait Insurance Company SAK3. Warba Insurance Company 4. Al Ahleia Insurance Company SAK5. Bahrain Kuwait Insurance Company BSC6. Enaya Insurance Company7. Kuwait Qatar Insurance Company8. Oriental Insurance Co. Ltd

For more details regarding Report coverage see the last slide




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