Kuwait's Takaful Firms Struggle In Crowded Market » Gulf Business

Kuwait's Takaful Firms Struggle In Crowded Market » Gulf Business:



"Kuwait’s first Islamic insurer was born 14 years ago, but its takaful firms are still struggling in a crowded market that faces cut-throat competition.



This has led to stagnant growth and persistent losses for takaful firms operating in Kuwait, one of the world’s richest countries on a per capita basis, raising doubts about the sector’s long-term viability.



In a market with 32 insurers, takaful firms say they are at a disadvantage to their conventional peers which have operated for decades, allowing them to build solid customer bases and amass large financial surpluses."



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