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Bahrain Insurance Report Q3 2015

Attention: There is an updated edition available for this report.

Bahrain Insurance Report Q3 2015

BMI View: Bahrain's insurance sector faces a challenging period as the knock-on effects of low oil priceson the country's hydrocarbons sector and wider economy result in households and businesses adoptingmore cautious approach over the coming years. As such, we expect both life and non-life insurancepenetration to remain fixed at their current, relatively low rate through to 2019. That said, we seeopportunities emerging in a number of sub-sectors through this period, not least health insurance.

Having bounced back strongly from the Arab Spring episode of early 2011, Bahrain's insurance sector hasenjoyed substantial growth in recent years, with growth in underwriting activity supported by a combinationof robust economic expansion and a growing expatriate population. That said, penetration (including boththe life and the non-life segments, is relatively low at around 2.1% of GDP. This is accentuated by low takeupamong non-Bahraini nationals who comprise more than half of the resident population of the kingdom.

Further, it is flattered by the inclusion of (substantially compulsory) health insurance premiums in the nonlifesegment. The lack of increase in total penetration (and the measured rise in density, which is set to growover 2015-2019, highlights several challenges and constraints. These include: the lack of potential for lifeinsurers to reach new clients; the impact of low interest rates on the sales of life insurance and other savingssolutions; and the persistent and fairly brutal price competition in many areas of the non-life segment. Thatsaid, among the factors currently driving growth in insurance premiums is the government's decision in2013 to extend its compulsory health insurance policy to the expatriate community, a move which has seenunderwriting activity in this segment increase substantially in recent months.

BMI Industry View
Operational Risk
Industry Forecast
Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Bahrain 2012-2019)
Table: Net Life Premiums Written (Bahrain 2012-2019)
Table: Reinsurance Life Premiums Written (Bahrain 2012-2019)
Table: Life Insurance Claims (Bahrain 2007-2014)
Life Insurer's Assets
Table: Assets (Bahrain 2007-2014)
Life Drivers
Table: Life Expectancy by Gender (Bahrain 2012-2019)
Table: Demographic Breakdown (Bahrain 2012-2019)
Non-Life Premiums Forecast
Non-life Premiums
Table: Gross Non-Life Premiums Written (Bahrain 2012-2019)
Table: Net Non-Life Premiums Written (Bahrain 2012-2019)
Table: Reinsurance Non-Life Premiums Written (Bahrain 2012-2019)
Table: Non-Life Insurance Claims (Bahrain 2007-2014)
Table: Non-Life Insurance Claims by Line (Bahrain 2007-2014)
Non-Life Insurers' Assets
Table: Non-Life Insurers' Assets (Bahrain 2007-2014)
Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Bahrain 2012-2019)
Motor Vehicle Insurance
Table: Motor Vehicle Insurance (Bahrain 2012-2019)
Table: Insurance Key Drivers, Autos (Bahrain 2012-2019)
Transport Insurance
Table: Transport Insurance (Bahrain 2012-2019)
Table: Insurance Key Drivers, Freight Tonnage (Bahrain 2012-2019)
Property Insurance
Table: Property Insurance (Bahrain 2012-2019)
Health Insurance
Table: Health Insurance (Bahrain 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Bahrain 2012-2019)
General Liability Insurance
Table: General Liability Insurance (Bahrain 2012-2019)
Credit/Financial Guarantee Insurance
Table: Credit/Financial Guarantee Insurance (Bahrain 2012-2019)
Industry Risk Reward Ratings
MENA Insurance Risk/Reward Index
Table: MENA Insurance Risk/Reward Index
Market Overview
Life Market Overview
Table: Life Insurance Market (USDmn) 2006-2013
Non-Life Market Overview
Table: Non-Life Insurance Market (USDMN) 2006-2013
Company Profile
Bahrain Kuwait Insurance Co. (BKIC)
Bahrain National Holdings
Takaful International
Demographic Forecast
Table: Population Headline Indicators (Bahrain 1990-2025)
Table: Key Population Ratios (Bahrain 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Bahrain 1990-2025)
Table: Population By Age Group (Bahrain 1990-2025)
Table: Population By Age Group % (Bahrain 1990-2025)
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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