Reinsurance in Kuwait, Key Trends and Opportunities to 2018

Published: Jun, 2015 | Pages: 72 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
Timetric’s 'Reinsurance in the Kuwait, Key Trends and Opportunities to 2018' report provides detailed analysis of the market trends, drivers, challenges in the Kuwaiti reinsurance segment. It provides values of a number of Key Performance Indicators (KPI) such as written premium, reinsurance ceded and reinsurance accepted during the review period (2009–2013) and forecast period (2013–2018). The report also analyses information pertaining to the competitive landscape in the country.

This brings together Timetric’s research, modeling, and analysis expertise to allows reinsurers to identify segment dynamics and competitive advantage, and access profiles of reinsurers operating in the country.

Summary
Timetric’s 'Reinsurance in the Kuwait, Key Trends and Opportunities to 2018' report provides in-depth market analysis, information and insights into the Kuwaiti reinsurance segment, including:

• The Kuwaiti reinsurance segment's growth prospects by reinsurance category

• Key drivers for the reinsurance segment

• Kuwaiti reinsurance segment’s growth prospects by reinsurance ceded from direct insurance

• The competitive landscape in the Kuwaiti reinsurance segment

Scope
This report provides a comprehensive analysis of the reinsurance segment in Kuwait:

• It provides historical values for Kuwait’s reinsurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.

• It offers a detailed analysis of the key categories in Kuwait’s reinsurance segment, along with market forecasts until 2018.

• It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Kuwait and its growth prospects.

Reason To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Kuwaiti reinsurance segment and each sector within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Kuwaiti reinsurance segment.

• Identify the growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Kuwaiti insurance industry, and their impact on companies and the industry's future.

Key Highlights
• The reinsurance segment posted a review-period (2009–2013) compound annual growth rate (CAGR) of 10.9% in terms of premium accepted

• Reasons for the growth in demand for reinsurance in the Kuwaiti insurance industry include underdeveloped underwriting skills, limited minimum capital requirements and a high demand for reinsurance.

• The personal accident and health segment accounted for the highest share in terms of premium ceded during the review period. The segment ceded 50.9% of its written premiums to reinsurance in 2013.

• Insurance companies in Kuwait cede a large percentage of their gross written premium to reinsurers.

 Table Of content

1 Key Facts and Highlights

2 Executive Summary

3 Introduction

3.1 What is this Report About?
3.2 Definitions
3.3 Methodology

4 Kuwaiti Insurance Industry Overview
4.1 Insurance Industry Size, 2009–2018

5 Reinsurance Growth Dynamics and Challenges
5.1 Reinsurance Segment Size, 2009–2018
5.2 Reinsurance Segment Size by Premium Ceded, 2009–2018

6 Key Industry Drivers
6.1 Reinsurance Drivers
6.2 Life Insurance Drivers
6.3 Non-Life Insurance Drivers
6.4 Personal Accident and Health Insurance Drivers

7 Competitive Landscape and Strategic Insights
7.1 Overview
7.2 Kuwait Reinsurance Company – Company Overview

8 Appendix – 1
8.1 Economic Performance
8.1.1 GDP at constant prices (US$)
8.1.2 GDP per capita at constant prices (US$)
8.1.3 GDP at current prices (US$)
8.1.4 GDP per capita at current prices (US$)
8.1.5 GDP by key sector
8.1.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
8.1.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
8.1.8 Manufacturing net output at current prices (US$)
8.1.9 Manufacturing net output at current prices as a percentage of GDP
8.1.10 Mining, manufacturing and utilities at current prices (US$)
8.1.11 Mining, manufacturing and utilities at current prices as a percentage of GDP
8.1.12 Construction net output at current prices (US$)
8.1.13 Construction net output at current prices as a percentage of GDP
8.1.14 Inflation rate
8.1.15 Exports as a percentage of GDP
8.1.16 Imports as a percentage of GDP
8.1.17 Merchandise exports growth
8.1.18 Merchandise imports growth
8.1.19 Annual average exchange rate US$–KWD
8.2 Infrastructure
8.2.1 Commercial vehicle exports – total value
8.2.2 Commercial vehicle imports – total value
8.2.3 Automotive exports – total value
8.2.4 Automotive imports – total value
8.2.5 Total internet subscribers
8.3 Labor Force
8.3.1 Labor force
8.3.2 Unemployment rate
8.4 Demographics
8.4.1 Total population
8.4.2 Urban and rural populations
8.4.3 Age distribution of the total population
8.4.4 Life expectancy

9 Appendix – 2
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric’s Services
9.5 Disclaimer

List Of Tables
Table 1: Kuwaiti Reinsurance – Key Facts, 2013
Table 2: Insurance Industry Definitions
Table 3: Kuwaiti Insurance Industry – Gross Written Premium by Segment (KWD Million), 2009–2013
Table 4: Kuwaiti Insurance Industry – Gross Written Premium by Segment (US$ Million), 2009–2013
Table 5: Kuwaiti Insurance Industry – Gross Written Premium by Segment (KWD Million), 2013–2018
Table 6: Kuwaiti Insurance Industry – Gross Written Premium by Segment (US$ Million), 2013–2018
Table 7: Kuwaiti Insurance Industry – Gross Written Premium by Segment (Percentage Share), 2009–2018
Table 8: Kuwaiti Insurance Industry – Direct Written Premium by Segment (KWD Million), 2009–2013
Table 9: Kuwaiti Insurance Industry – Direct Written Premium by Segment (US$ Million), 2009–2013
Table 10: Kuwaiti Insurance Industry – Direct Written Premium by Segment (KWD Million), 2013–2018
Table 11: Kuwaiti Insurance Industry – Direct Written Premium by Segment (US$ Million), 2013–2018
Table 12: Kuwaiti Insurance Industry – Direct Written Premium by Segment (Percentage Share), 2009–2018
Table 13: Kuwaiti Reinsurance – Premium Accepted by Category (KWD Million), 2009–2013
Table 14: Kuwaiti Reinsurance – Premium Accepted by Category (US$ Million), 2009–2013
Table 15: Kuwaiti Reinsurance – Premium Accepted by Category (KWD Million), 2013–2018
Table 16: Kuwaiti Reinsurance – Premium Accepted by Category (US$ Million), 2013–2018
Table 17: Kuwaiti Reinsurance – Premium Ceded by Type of Insurance (KWD Million), 2009–2013
Table 18: Kuwaiti Reinsurance – Premium Ceded by Type of Insurance (US$ Million), 2009–2013
Table 19: Kuwaiti Reinsurance – Premium Ceded by Type of Insurance (KWD Million), 2013–2018
Table 20: Kuwaiti Reinsurance – Premium Ceded by Type of Insurance (US$ Million), 2013–2018
Table 21: Kuwaiti Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Table 22: Kuwaiti Life Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Table 23: Kuwaiti Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Table 24: Kuwaiti Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Table 25: Kuwaiti Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Table 26: Kuwaiti Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2013–2018

List Of Figures
Figure 1: Kuwaiti Insurance Industry – Gross Written Premium by Segment (KWD Million), 2009–2018
Figure 2: Kuwaiti Insurance Industry – Gross Written Premium Dynamics by Segment (2009–2018)
Figure 3: Kuwaiti Insurance Industry – Direct Written Premium by Segment (KWD Million), 2009–2018
Figure 4: Kuwaiti Insurance Industry – Direct Written Premium Dynamics by Segment (2009–2018)
Figure 5: Kuwaiti Reinsurance – Premium Accepted by Category (KWD Million), 2009–2018
Figure 6: Kuwaiti Reinsurance – Premium Accepted by Category (Percentage Share), 2013 and 2018
Figure 7: Kuwaiti Reinsurance – Premium Accepted Dynamics by Category, 2009–2018
Figure 8: Kuwaiti Reinsurance – Premium Ceded by Type of Insurance (KWD Million), 2009–2018
Figure 9: Kuwaiti Reinsurance – Premium Ceded Dynamics by Type of Insurance, 2009–2018
Figure 10: Kuwaiti Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Figure 11: Kuwaiti Life Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Figure 12: Kuwaiti Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Figure 13: Kuwaiti Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Figure 14: Kuwaiti Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Figure 15: Kuwaiti Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Figure 16: Kuwaiti GDP at Constant Prices (US$ Billion), 2009–2013
Figure 17: Kuwaiti GDP Per Capita at Constant Prices (US$), 2009–2013
Figure 18: Kuwaiti GDP at Current Prices (US$ Billion), 2009–2013
Figure 19: Kuwaiti GDP Per Capita at Current Prices (US$), 2009–2013
Figure 20: Kuwaiti GDP by Key Sector (%), 2009 and 2013
Figure 21: Kuwaiti Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices (US$ Billion), 2009–2013
Figure 22: Kuwaiti Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices as a Percentage of GDP (%), 2009–2013
Figure 23: Kuwaiti Manufacturing Net Output at Current Prices (US$ Billion), 2009–2013
Figure 24: Kuwaiti Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2009–2013
Figure 25: Kuwaiti Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2009–2013
Figure 26: Kuwaiti Mining, Manufacturing and Utilities Net Output at Current Prices as a Percentage of GDP (%), 2009–2013
Figure 27: Kuwaiti Construction Net Output at Current Prices (US$ Billion), 2009–2013
Figure 28: Kuwaiti Construction Output at Current Prices as a Percentage of GDP (%), 2009–2013
Figure 29: Kuwaiti Inflation Rate (%), 2009–2013
Figure 30: Kuwaiti Exports as a Percentage of GDP (%), 2009–2013
Figure 31: Kuwaiti Imports as a Percentage of GDP (%), 2009–2013
Figure 32: Kuwaiti Merchandise Exports Growth (%), 2009–2013
Figure 33: Kuwaiti Merchandise Imports Growth (%), 2009–2013
Figure 34: Kuwaiti Annual Average Exchange Rate US$–KWD, 2009–2013
Figure 35: Kuwaiti Commercial Vehicle Exports – Total Value (US$ Million), 2009–2013
Figure 36: Kuwaiti Commercial Vehicle Imports – Total Value (US$ Million), 2009–2013
Figure 37: Kuwaiti Automotive Exports – Total Value (US$ Million), 2009–2013
Figure 38: Kuwaiti Automotive Imports – Total Value (US$ Billion), 2009–2013
Figure 39: Kuwaiti Internet Subscriptions (Millions), 2009–2013
Figure 40: Kuwaiti Size of Labor Force (Million), 2009–2013
Figure 41: Kuwaiti Unemployment Rate (%), 2009–2013
Figure 42: Kuwaiti Total Population (Million), 2009–2013
Figure 43: Kuwaiti Urban and Rural Populations (%), 2009–2013
Figure 44: Kuwaiti Population Distribution by Age (%), 2009–2013
Figure 45: Kuwaiti Life Expectancy (Number of Years), 2009–2013