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Bahrain Insurance Report Q1 2016

Bahrain Insurance Report Q1 2016

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.


BMI Industry View
Table: Headline Insurance Forecasts (Bahrain 2012-2019)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (Bahrain 2012-2019)
Table: Life Insurance Claims (Bahrain 2007-2014)
Non-Life Premiums Forecast
Table: Non-Life Premiums (Bahrain 2012-2019)
Table: Non-Life Insurance Claims (Bahrain 2008-2014)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (Bahrain 2012-2019)
Industry Risk Reward Ratings
MENA Insurance Risk/Reward Index
Table: MENA Insurance Risk/Reward Index
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Table: Life Market Share, Gross Premiums, USDmn (2007-2014)
Table: Life Market Share (%), 2007-2014
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Table: Non-Life Market Share, USDmn (2007-2014)
Table: Non-Life Market Share (%), 2007-2014
Company Profile
Arig
Bahrain Kuwait Insurance Co. (BKIC)
Bahrain National Holdings
MedGulf
Takaful International
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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