Non-Life Insurance in Kuwait, Key Trends and Opportunities to 2017

Date: 2015-09

“Non-life insurance was the largest segment in the Kuwaiti insurance industry in 2012, accounting for 61.0% of total industry premiums. The segmentโ€™s value increased during the review period (2008โ€“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 (2012โ€“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. 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.

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