New Financial Services research report from Business Monitor International is now available from Fast Market Research
[ClickPress, Sun Feb 28 2016] We remain of the view that much of the growth in the entire insurance sector will arise from greater purchase of (compulsory) heal th insurance by expatriates. Secular constraints to the expansion of other non-life sub-sectors - and the life segment - will continue to prevail. Kuwaiti companies continue t o look for opportunities in othe r countries.
Key Updates And Forecasts
In many ways, Kuwait is an archetypal GCC region insurance market. It is, and will remain, under-developed by most metrics. In the larger, non-life segment, the main constraint is the small scale of most of the companies. In the life segment, the main constraint is that Kuwaiti nationals do not need the offerings of the life companies (including international players and local composites). This is because of the comprehensive social security benefits that are available.
This quarter, we have not materially changed our forecasts for either of the major segments. The non-life segment should achieve solid growth in premiums of about 8% annually. This is mainly because of growing demand from expatriates for (compulsory) private health insurance cover. Most of the other sub-sectors will continue to be constrained by slow expansion in volumes or price competition. Al-Ahleia's take-over of Kuwait Re (in which it has already had a significant investment) in late 2015 is another example of a Kuwait company that is seeking opportunities in other countries.
Full Report Details at
The life sub-sector should expand by around 2% annually. Activity will continue to be dominated by the provision of protection and savings products to expatriates.
The Kuwait Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Kuwait Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Kuwaiti insurance industry.
Benchmark BMI's independent insurance industry forecasts for Kuwait to test other views - a key input for successful budgeting and strategic business planning in Kuwait's insurance market.
Target business opportunities and risks in Kuwait through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
BMI Industry View
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
You may also be interested in these related reports:
- Oman Insurance Report Q2 2016
- Russia Insurance Report Q2 2016
- Ukraine Insurance Report Q2 2016
- Vietnam Insurance Report Q2 2016
- Estonia Insurance Report Q2 2016