This chapter includes the following articles.
Insurance
![Kuwait Insurance Kuwait Insurance](https://drupal.oxfordbusinessgroup.com/sites/default/files/styles/chapter_header__710x233_/public/chapter_headers/in1_1.png?itok=yJXwTifD&c=cca45202e26d144dd837869bb5c64744)
The Kuwait insurance industry entered 2017 after a challenging period, which saw premium growth maintained but profitability declining year-on-year. High levels of competition and low oil prices make a reversal of this trend in the short term a daunting prospect. However, a number of developments in the pipeline – including a new legislative framework and the introduction of mandatory health coverage for expatriates – have the potential to provide a timely boost to Kuwait’s insurers. There is clearly scope for the expansion of insurance activity in the Kuwaiti market. The domestic industry plays a relatively small role in the economy, with banks and investment companies accounting for 94% of the financial system as of December 2015, according to the Central Bank of Kuwait. Insurance density in Kuwait, which stands at around 0.9% of GDP, is low even by regional standards.