Insurance
From The Report: Kuwait 2024
View in Online Reader
Kuwait’s insurance sector is characterised by the strong presence of several key players and the entry of new competitors in what is seen as a relatively compact market. While the sector has historically maintained a smaller scale than its GCC counterparts, in recent years a new law and several policy amendments have spurred growth in the industry. The introduction of compulsory insurance requirements in the auto sector and for foreigners has encouraged the uptake of a variety of insurance products. While there is room for expansion, the potential for advancement in this area lies in enhanced marketing strategies and increased digitalisation.
This chapter contains an interview with Mohammad Al Otaibi, Head of the Insurance Regulatory Unit.
