Kuwaiti insurance market: 2022 turnover

All insurers operating in Kuwait have recorded a 7.9% growth in their overall turnover in 2022. The written premiums went up from 526.928 million KWD (1.8 billion USD) in 2021 to 568.56 million KWD (1.9 billion USD) a year later.

The non-life class of business has seen its turnover increase by 8.12% to 508.441 million KWD (1.7 billion USD), accounting for 89.43% of the market share. The non-life activity is dominated by health insurance which represents 50.64% of the total premium income, followed by the motor and accident activities with respective market shares of 16.81% and 11.33%.

For its part, the life class of business generated 10.57% of the total premiums written in the country in 2022.