Islamic Finance Kuwait stands out for the local importance of its takaful insurance providers. Despite the general underdevelopment of the Kuwaiti insurance sector, official resources are mobilised to promote Islamic finance, ensuring continued growth.
Forecasts suggest there is little appetite for change in the short term, with foreign investors largely steering clear of any fresh investments in the country’s insurance industry. Recent results point to growth in premiums of 18% for 2010 as a whole. This compares favourably with the 8% growth achieved by the same companies in 2009. (Press Release)