Life Insurance in Kuwait, Key Trends and Opportunities to 2017

Date: 2015-09

Life insurance was the smallest segment in the Kuwaiti insurance industry in 2012, accounting for 19.3% of the industryโ€™s total written premium. The segmentโ€™s value increased during the review period (2008โ€“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.

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