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Follow on Google News | Recently released market study: Kuwait Insurance Report Q4 2010New Financial Services market report from Business Monitor International: "Kuwait Insurance Report Q4 2010"
Nor is it clear that there would be much opportunity for them if they did. The larger listed Kuwaiti insurance companies have published their results for the nine months to the end of 2009. We continue to look for overall growth in premiums last year of around 5%. Virtually all of the absolute growth in premiums was accounted for by market leader Gulf Insurance. Al Ahleia Insurance reported a significant decline in both gross and net premiums and total assets. As a result of our methodology - which assumes a steady increase in non-life penetration (i.e. premiums as a percentage of GDP), we are currently looking for accelerating in growth from 2010. However, we recognise that we may yet have to lower our forecasts. Other than those mentioned, the main operators in Kuwait are, similarly, locally owned and listed organisations that are small by anything other than local standards. Examples include Kuwait Insurance, Kuwait Re, Warba Insurance, Wethaq Takaful and First Takaful. As is the case in several other Middle Eastern countries, the level of development of the life segment is embryonic. This may be because the government makes extensive social security benefits available to its citizens and it is not clear what will be a catalyst for this to change. In this report, we also continue to provide a breakdown of the insurance sector by line - from the point of view of the regulator or trade association. In Kuwait, comprehensive motor insurance (presumably compulsory motor third party liability) was the largest line in the non-life segment, accounting for just under half of gross written premiums. Other major lines included life and health, marine aviation and transport, and property and fire insurance. At the time of writing in September 2010, we have been able to ensure that the report includes actual data for 2009. We have generally been able to use data that was published during 2010 to adjust our forecasts for the year as a whole. Total premiums last year amounted to KWD194mn. This included non-life premiums of KWD194mn and life premiums of KWD44mn. In 2014, the corresponding figures should be KWD318mn, 255mn and KWD64mn respectively. In terms of the growth drivers that underpin our forecasts, we are looking for non-life penetration to rise from 0.46% of GDP in 2009 to 0.52% in 2014. We are looking for life density to grow from US$47 per capita to US$67. BMI's Insurance Business Environment Rating for Kuwait is 44.3 For more information or to purchase this report, go to: - http://www.fastmr.com/ Partial Table of Contents: Executive Summary - Table: Overview Of Kuwait's Insurance Sector - Key Insights On Kuwait's Insurance Sector - Issues To Watch SWOT Analysis - Kuwait Insurance SWOT - Kuwait Political SWOT - Kuwait Economic SWOT - Kuwait Business Environment SWOT MetLife's Acquisition of ALICO - Table: ALICO At A Glance - Table: ALICO's Pre-Tax Profits By Segment And Region Contribution, Year To November 30 2009 (%) - Table: ALICO - A Market Leader In Japan - Table: MetLife's Acquisition Of ALICO - Table: MetLife And ALICO Combined Middle East And North Africa Overview Islamic Insurance Overview Projections And Forecasts - Table: Insurance Premiums, 2007-2014 - Projections And Drivers Of Growth - Table: Growth Drivers, 2007-2014 Country Update - Macroeconomic Outlook - Table: Kuwait - Economic Activity - Political Outlook - Foreign Policy - Long-Term Political Outlook Business Environment - Table: Kuwait Insurance Business Environment Indicators - Table: Middle East And Africa Insurance Business Environment Ratings Regional Context - Table: Non-Life Premiums In A Regional Context, 2009 - Table: Life Premiums In A Regional Context, 2009 - Major Players In Kuwait's Insurance Sector - Table: Premiums, 2008 (KWDmn) - Table: Total Premiums, January-September 2008 And 2009 (KWDmn) Analysis Of Regional Competitive Conditions - Table: Listed Middle Eastern Insurance Companies. Net Premiums, Net Profit And Long Term Assets, 2003-2008 (US$mn) Selected Company Profiles - Local Company Profiles - AL-Ahleia - First Takaful Insurance Company - Gulf Insurance Company - Kuwait Insurance Company - Warba Insurance Company - Selected Regional Company Profiles - AIG - Allianz - Aviva - AXA - Generali - HSBC Insurance - MAPFRE - RSA - UNIQA - Zurich Financial Services Country Snapshot: Kuwait Demographic Data - Section 1: Population - Table: Demographic Indicators, 2005-2030 - Table: Rural/Urban Breakdown, 2005-2030 - Section 2: Education And Healthcare - Table: Education, 2002-2005 - Table: Vital Statistics, 2005-2030 - Section 3: Labour Market And Spending Power - Full Table of Contents is available at: -- http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. 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. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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