Despite volatility in international oil prices and delays in the implementation of economic diversification strategies, ratings agencies and the IMF agree the outlook for Kuwait is strong and stable, as it is home to substantial oil reserves and one of the world’s richest sovereign wealth funds (SWFs). Geologists calculate domestic oil fields...
With major new development projects under way across all transport sectors, Kuwait is pouring billions of dinars into transforming its roads, ports and airports. The country’s medium-term objective is to capitalise on its strategic location in order to become the northern nexus of the Gulf, facilitating and profiting from flows of...
How would you characterise the development of port infrastructure in Kuwait compared to other countries in the Gulf?
As the infrastructure schemes identified in Kuwait’s 2035 strategic plan are implemented, high-speed international passenger rail journeys from Boubiyan to Dammam and daily metro commutes from suburbs to commercial districts could be a feature of daily life as early as the 2020s. A national rail network has also been designed to connect to...
While advanced economies generate the vast majority of insurance and reinsurance business, emerging markets are posting higher rates of growth. Complementing this underlying trend is the strong and expanding interest in catastrophic risk, which by nature tends to pertain to emerging markets.
In 2017 and early 2018 Kuwait’s insurance sector enjoyed growth on the strength of steadily rising premium, regulatory tweaks and forays by individual underwriters into a number of new market segments. Nonetheless, according to many stakeholders, the obsolescence of the country’s insurance law – which dates back to 1961, when Kuwait declared...
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