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Kuwait Insurance Report Q1 2012

Description:

Business Monitor International's Kuwait Insurance Report provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Kuwait's insurance industry.

In theory, Kuwait should be home to one of the Middle East’s leading insurance sectors. Thanks to energy exports, the economy has consistently performed well over the long-term. The local insurance companies are well established. Kuwait is also the base for very substantial and innovative shari’a-compliant financial institutions. The Kuwait Investment Authority is one of the major shareholders in ARIG, the leading regional reinsurance company.

In practice, the general picture of the sector as at the end of 2011 is a profoundly depressing one of ongoing stagnation. Non-life penetration remains stuck at a level that is low even by the standards of the Middle East. As is not the case in other Gulf Cooperation Council (GCC) countries, there is no obvious catalyst – such as the arrival of compulsory and universal health insurance – why this should change. In a country with a very comprehensive – and generous – social security system, life density remains minimal.

Unlike its counterparts in Bahrain, Qatar and the UAE, the government is not actively seeking to promote the development of financial services – although the Minister of Commerce and Industry announced in October 2011 that she would, in the near future, issue a directive in relation to the regulation of the (re)insurance companies and the insurance brokers operating in Kuwait. As far as BMI can see, though, the new law – to replace the outdated legislation that has governed the sector since the early – has yet to be passed by Kuwait’s parliament.

Meanwhile, the insurance companies are small even by the standards of the Middle East. Kuwait’s 12 or so takaful operators, which account for about one fifth of the activity in the sector (in terms of premiums/contributions) are tiny. Gulf Insurance, by far the largest insurance company in Kuwait, has long been pursuing opportunities in other countries in the Middle East and North Africa rather than at home.

Contents:

Executive Summary
Table: Total Premiums 2008-2016
Key Insights And Key Risks

SWOT Analysis
Kuwait Insurance Industry SWOT
Kuwait Political SWOT
Kuwait Economic SWOT
Kuwait Business Environment SWOT

Life Sector
Middle East Life Sector Overview
Table: Middle East And Africa Life Premiums, 2008-2016 (US$mn)

Kuwait Life Sector Update
Life Insurance Industry Forecast Scenario
Table: Total Life Premiums 2008-2016
Growth Drivers And Risk Management Projections
Population
Table: Insurance Key Drivers, Demographics 2008-2016

Non-Life Sector
Middle East Non-Life Sector Overview
Table: Middle East And Africa Non-Life Premiums, 2008-2016 (US$mn)
Kuwait Non-Life Sector Update

Non-Life Insurance Industry Forecast Scenario
Table: Total Non-Life Premiums 2008-2016
Growth Drivers And Risk Management Projections

Macroeconomic Outlook
Table: Kuwait Economic Activity, 2011-2016
Political Stability Outlook
Healthcare
Healthcare Insurance
Healthcare Insurance Developments
Epidemiology
Motor
Table: Insurance Key Drivers, Autos 2008-2015
Islamic Finance
Insurance Risk/Reward Ratings

Table: Middle East And Africa Insurance Risk/Reward Ratings
Competitive Landscape

Competitive Landscape Analysis
Major Players In Kuwait’s Insurance Sector
Table: Kuwait’s Insurance Sector At A Glance, 2009-2010

Company Profiles
Local Company Profiles
Al-Ahleia
First Takaful Insurance Company
Gulf Insurance Company
Kuwait Insurance Company
Warba Insurance Company
Regional Company Profiles
Allianz
Arab Insurance Group (ARIG)
Aviva
AXA
Chartis
Generali
HSBC Insurance
MAPFRE
MetLife ALICO
RSA
Zurich Financial Services

BMI Methodology
Insurance Risk/Reward Ratings
Table: Insurance Risk/Reward Indicators And Rationale
Table: Weighting Of Indicators

Companies Mentioned

- Al-Ahleia
- First Takaful Insurance Company
- Gulf Insurance Company
- Kuwait Insurance Company
- Warba Insurance Company
- Allianz
- Arab Insurance Group (ARIG)
- Aviva
- AXA
- Chartis
- Generali
- HSBC Insurance
- MAPFRE
- MetLife ALICO
- RSA
- Zurich Financial Services

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Kuwait Insurance Report Q1 2012

Fax order form

Order information

Product name

Web Address

Office Code

Report Formats

Contact information

Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Payment information

Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Please fax this form to:
(646) 607-1907 or (646) 964-6609 (from USA)
+353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Please fax this form to:
(646) 607-1907 or (646) 964-6609 (from USA)
+353-1-481-1716 or +353-1-653-1571 (from Rest of World)