Kuwait: FY2025 insurance premiums fall 9% y-o-y
Source: Middle East Insurance Review | Oct 2025
Insurance companies’ premium volume in Kuwait declined by 9% in the fiscal year ended 31 March 2025 (FY2025) with the health insurance branch reporting a notable drop, according to the sector’s regulator.
The combined direct insurance premiums of insurers in Kuwait reached KWD616.2m ($2bn) in FY2025, down from KWD678.7m in the preceding year, a 9.2% drop, according to the Insurance Regulatory Unit (IRU) fifth Annual Report for the 2024-2025 financial year.
The overall fall in total business is attributed largely to the sharp decline (20.5%) in health insurance premiums, which reached KWD277m in FY2025 from KWD348.3m in FY2024. Health insurance premiums accounted for 45% of the market’s overall operations in FY2025, down from 51.3% in FY2024.
Compulsory motor insurance, which accounted for around 7% of the combined market operations, was the fastest-growing line of business as its premiums reached KWD42.3m in FY2025, 23% higher than the KWD34.3m in FY2024.
Marine and aviation insurance businesses grew by 13% to around KWD23m from KWD20m. Premiums of the other non-life insurance lines of business saw negative growth.
On the other hand, life insurance premiums grew by 5.3% to reach KWD67.4m (around 11% of the market gross direct premiums) in FY2025 from KWD64m in FY2024. M