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Bahrain Insurance Report Q1 2016

  • January 2016
  • -
  • Business Monitor International
  • -
  • 55 pages

Includes 3 FREE quarterly updates

BMI View: Despite headwinds from general economic weakness triggered by low oil prices, Bahrain'sresilient insurance sector will continue to grow at 6-7% in both the life and the non-life sector. Welldevelopedby regional standards, the insurance market remains small by global standards. Healthinsurance is likely to be the key outperformer, with growth of 9-10% for the foreseeable future driven by keyregulatory changes mandating health cover for expatriates as well as Bahrainis.

Key Updates And Forecasts

- In December 2015, the Central Bank of Bahrain released its report on the market in 2014, showing thelife sector underperforming expectations with a 9% contraction in gross premiums. We expect resiliencefrom the sector over the coming years, however, preserving a strong outlook to 2019.

- The non-life sector delivered roughly as expected with growth at about 9%. Health insurance was the keyoutperformer with 19% growth, and remains our pick for medium-term growth prospects.

- Strong updates from the Bahrain Bay development are a boon to property insurers as a successful projectwill create high-value property and shows demand for this kind of infrastructure project.

Table Of Contents

Bahrain Insurance Report Q1 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Bahrain 2012-2019) 7
SWOT 8
Insurance 8
Industry Forecast 10
Life Premiums Forecast 10
Table: Life Premiums (Bahrain 2012-2019) 13
Table: Life Insurance Claims (Bahrain 2007-2014) 13
Non-Life Premiums Forecast 14
Table: Non-Life Premiums (Bahrain 2012-2019) 17
Table: Non-Life Insurance Claims (Bahrain 2008-2014) 17
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums by Product Line (Bahrain 2012-2019) 23
Industry Risk Reward Ratings 25
MENA Insurance Risk/Reward Index 25
Table: MENA Insurance Risk/Reward Index 26
Market Overview 27
Life Market Overview 27
The Product Offering 27
The Competitive Landscape 28
Table: Life Market Share, Gross Premiums, USDmn (2007-2014) 29
Table: Life Market Share (%), 2007-2014 30
Non-Life Market Overview 30
The Product Offering 30
The Competitive Landscape 32
Table: Non-Life Market Share, USDmn (2007-2014) 32
Table: Non-Life Market Share (%), 2007-2014 33
Company Profile 35
Arig 35
Bahrain Kuwait Insurance Co (BKIC) 38
Bahrain National Holdings 41
MedGulf 44
Takaful International 46
Methodology 49
Industry Forecast Methodology 49
Risk/Reward Index Methodology 52
Table: Indicators 54
Table: Weighting of Indicators 55

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