Market Report, "Bahrain Insurance Report Q2 2011", published

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Listed Under

* Insurance
* Premiums
* Non-life
* Written
* Islamic
* Finance
* Bank
* Motor
* Cbb
* Dominated

* Finance
* Research
* Banking

* Massachusetts - US

April 23, 2011 - PRLog -- Key Insights On Bahrain's Insurance Sector

Bahrain occupies a unique role in the Middle East and the small island state with relatively few natural resources the city has many advantages. Similar to Singapore in South East Asia, Bahrain operates as a regional service centre. With a respected central bank and tough regulation, it has developed a highly regarded financial services sector.

The recent unrest in North Africa and the Middle East has helped to highlight the advantages of Bahrain's highly developed insurance sector. The Central Bank of Bahrain (CBB) played an important role in allowing the insurance sector to grow steadily despite the global financial crisis. Non-life and life premiums are estimated to have risen by 5% in 2010.

The figures in this report show the great resilience of the sector. BMI forecasts show that from 2011 virtually all indicators are pointing towards rapid growth in the Middle Eastern insurance sector. The CBB is starting to reap the rewards of having been one of the major and successful proponents of Islamic finance on the global stage. Bahrain and Malaysia are now home to a number of important international Islamic finance institutions.

The non-life insurance sector in the country is dominated by two large companies, Bahrain Kuwait Insurance and Bahrain National Insurance. Together they account for approximately a third of gross written premiums in the segment. Other companies include: Takaful International, al-Ahlia Insurance, Gulf Union Insurance & Reinsurance, AXA Insurance (Gulf) and ACE American Insurance.

The life sector is dominated by Life Insurance Corporation (International), MetLife ALICO and Zurich International. Together they account for about two-thirds of gross written premiums. Eight other operators share the remaining third of the market.

We estimate total premiums in 2010 of BHD210mn. This includes non-life premiums of BHD150mn and life premiums of BHD60mn. In 2015, the corresponding figures are forecast to be BHD513mn, BHD357mn and BHD155mn. These figures are much higher when inwards reinsurance premiums are included. We expect non-life penetration to rise from 1.33% of GDP in 2010 to 2.01% in 2015, and for life density to increase from US$158 per capita to US$408 over the same period. BMI's Insurance Business Environment Rating for Bahrain at 57.3 out of 100.

Issues To Watch

New Participants

Zurich and the Hardy-ARIG joint venture have helped to drive growth in premiums in Bahrain. Along with other new initiatives announced by international groups, this bolsters the view that cross-border business is expanding in the country.

Islamic Finance

Rapidly growing order books for takaful should continue to develop an important growth driver over the coming years.

For more information or to purchase this report, go to:

Partial dlwtq Table of Contents:

Executive Summary
- Table: Overview Of Bahrain's Insurance Sector
- Key Insights On Bahrain's Insurance Sector
- Issues To Watch
SWOT Analysis
- Bahrain Insurance Industry SWOT
- Bahrain Political SWOT
- Bahrain Economic SWOT
- Bahrain Business Environment SWOT
MetLife's Acquisition Of ALICO
- Table: ALICO At A Glance
- Table: ALICO's Pre-Tax Profits By Segment And Region Contribution, Year To November 30 2009 (%)
- Table: ALICO - A Market Leader In Japan
- Table: MetLife's Acquisition Of ALICO
- Table: MetLife And ALICO Combined
Middle East And Africa Overview
- Table: Non-Life Segment Premiums, 2009-2010 (US$mn)
- Table: Life Segment Premiums, 2009-2010 (US$mn)
Islamic Insurance Overview
Projections And Forecasts
- Table: Insurance Premiums, 2008-2015
- Projections And Drivers Of Growth
- Table: Growth Drivers, 2008-2015
Country Update
- Macroeconomic Outlook
- Table: Bahrain Economic Activity, 2008-2015
- Political Outlook
- Long-Term Political Outlook
Insurance Business Environment Ratings
- Table: Bahrain's Insurance Business Environment Rating
- Table: Middle East And Africa Insurance Business Environment Ratings
Regional Context
- Table: Non-Life Premiums In A Regional Context, 2009
- Table: Life Premiums In A Regional Context, 2009
Major Players In Bahrain's Insurance Sector
- Table: Breakdown Of Insurance Premiums, 2008-2009 (BHDmn)
- Table: Breakdown Of Reinsurance Premiums, 2008-2009 (BHDmn)
- Table: Rankings Of Non-Life Insurance Companies By Gross Written Premiums, 2008-2009 (BHD'000)
- Table: Rankings Of Life Insurance Companies By Gross Written Premiums, 2008-2009 (BHD '000)
Analysis Of Regional Competitive Conditions
Company Profiles
- Local Company Profiles
- Bahrain National Holding Company
- Regional Company Profiles
- Arab Insurance Group (ARIG)
- Chartis
- Allianz
- Aviva
- Generali
- HSBC Insurance
- MetLife ALICO
- Zurich Financial Services
Country Snapshot: Bahrain Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education And Healthcare

Full Table of Contents is available at:

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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Tags:Insurance, Premiums, Non-life, Written, Islamic, Finance, Bank, Motor, Cbb, Dominated
Industry:Finance, Research, Banking
Location:Massachusetts - United States
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