Magazine Table of Contents
The first six months of the year marked an excellent start for the six Kuwait-listed insurers – achieving consecutive double-digit gains in both GWP and net profit during the first two quarters, backed by robust performance from the four conventional insurers, while the two takaful operators faltered.
The general insurance sector in Kuwait has managed to sustain its positive performance in 2021 through the first half of this year on the back of increased economic activity and is expected to continue doing well in the wake of increasing demand for oil and gas. We spoke to Moody’s Mr Nondas Nicolaides to get a better idea of how this will play out as well as other trends to look out for in the sector.
Kuwait’s regulator has called on all insurance companies and related parties to regularise their status and renew licences. However, the additional requirements may prove too much for some insurers. Middle East Insurance Review spoke to law firms in the region for insights.
The Kuwait InsurTech market is still in its infancy and what little progress was made was achieved after the onset of the COVID-19 pandemic, says Saiyarti’s Mr Satish Sharma.