BMI View: Both the Life and the non-Life markets should experience robust growth over the medium tolong-term, with dollar premium growth helped by exchange rate stability. The Life market is quiteconcentrated, with a heavy presence of foreign players, catering largely for the substantial expatriatecommunities, although the non-Life market is relatively fragmented and under-developed, suggestinggreater potential for additional foreign engagement over the long-term.
Latest Updates And Industry Developments
Life premiums rose by an estimated 9.3% in 2016, reaching BHD60mn and USD160mn respectively,largely reversing the losses that occurred in 2015. In 2017, we anticipate that premiums will rise 5.4% toBHD63mn and USD168mn, before embarking on a slightly higher growth trajectory for the remainder ofthe forecast period.
We predict that non-Life premiums will increase by 6.1% in 2017 and remain around or above this levelof growth during the majority of our forecast period. This follows growth of 5% in 2016.