Boston, MA -- (SBWIRE) -- 03/19/2014 -- Despite its small size, the Bahraini insurance industry is well developed and highly regulated. The industry grew at a review-period (2008-2012) compound annual growth rate (CAGR) of 3.8%, driven by an increase in the infrastructural projects, the implementation of compulsory motor third-party liability insurance, the rising number of health conditions and a steadily growing population. The industry is expected to face challenges over the forecast period (2012-2017). The high combined ratios of non-life insurance companies, which are expected to continue to exceed 100%, and political unrest in the country will put pressure on the industry's overall profitability. However, despite such challenges, Bahrain's insurance industry is anticipated to rise at a forecast-period CAGR of 7.8%, driven instead by the huge growth potential realized by foreign investors, regulatory reforms and government efforts to support growth.
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- The Bahraini insurance industry grew at a review-period CAGR of 3.8%
- The non-life segment was supported by strong growth in the property insurance category, which registered a review-period CAGR of 7.4%
- The motor insurance category also registered growth during the review period, due to the implementation of compulsory motor third-party liability insurance in the country
- The personal accident and health segment registered the fastest growth in the industry during the review period, at a CAGR of 10.2%
- The 10-leading insurers collectively held an industry share of 84.5% in 2012
- As of 2012, there were 12 domestic insurance firms licensed to conduct insurance business in the country, and eight branch offices of overseas entities
This report provides a comprehensive analysis of the insurance industry in Bahrain:
- It provides historical values for the Bahraini insurance industry for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key segments and categories in the Bahraini insurance industry, along with forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in Bahrain, and outlines the key regulations affecting them.
Reasons to Get this Report
- Make strategic business decisions using in-depth historic and forecast industry data related to the Bahraini insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Bahraini insurance industry.
- Assess the competitive dynamics in the Bahraini insurance industry.
Companies Mentioned in this Report: Bahrain Kuwait Insurance Co., Life Ins. Corporation (International), Axa Insurance (Gulf) Co., American Life Insurance Company, ACE American Insurance Co,
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