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General Insurance in Bahrain, Key Trends and Opportunities to 2021

Published By :

GlobalData

Published Date : Apr 2018

Category :

Banking

No. of Pages : 116 Pages

General Insurance in Bahrain, Key Trends and Opportunities to 2021

Summary

GlobalDatas 'General Insurance in Bahrain, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Bahraini general insurance segment, and a comparison of the Bahraini insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bahraini economy and demographics, explains the various types of natural hazard and their impact on the Bahraini insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalDatas research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

This report provides in-depth market analysis, information and insights into the Bahraini General insurance segment, including -
- The Bahraini general segments detailed outlook by product category
- A comprehensive overview of the Bahraini economy and demographics
- A comparison of the Bahraini general insurance segment with its regional counterparts
- The various distribution channels in the Bahraini general insurance segment
- Detailed analysis of natural hazards and their impact on the Bahraini insurance industry
- Details of the competitive landscape in the general insurance segment in Bahrain
- Details of regulatory policy applicable to the Bahraini insurance industry

Key Highlights

- In June 2017, Bahrain Kuwait Insurance Company (BKIC) acquired a 36.3% stake in Takaful International Company BSC for BHD0.22 million (US$0.58 million) per share.
- In June 2016, Al Hilal signed a third party administrator agreement with GlobalMed Bahrain to expand into medical insurance.
- Motor insurance was the largest sub-segment, accounting for 39.9% of the general insurances gross written premium in 2016.
- In August 2016, Bahrain Kuwait Insurance Company opened its new branch in Saar Mall in the Northern Governorate.

Scope

- This report provides a comprehensive analysis of the General insurance segment in Bahrain.
- It provides historical values for the Bahraini general insurance segment for the reports 2012-2016 review period, and projected figures for the 2016-2021 forecast period.
- It offers a detailed analysis of the key categories in the Bahraini general insurance segment, and market forecasts to 2021.
- It provides a comparison of the Bahraini general insurance segment with its regional counterparts
- It analyzes the various distribution channels for general insurance products in Bahrain.
- It analyzes various natural hazards and their impact on the Bahraini insurance industry
- It profiles the top general insurance companies in Bahrain, and outlines the key regulations affecting them.

Reasons to buy

- Make strategic business decisions using in-depth historic and forecast market data related to the Bahraini general insurance segment, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Bahraini general insurance segment.
- Assess the competitive dynamics in the general insurance segment.
- Identify growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Bahraini insurance industry, and their impact on companies and the industry's future.
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Active policies
4.2.3 Claims
4.2.4 Assets and investments
5 Outlook by Sub-Segment
5.1 Property Insurance
5.1.1 Overview
5.1.2 Premium
5.1.3 Active policies
5.1.4 Claims
5.2 Motor Insurance
5.2.1 Overview
5.2.2 Premium
5.2.3 Active policies
5.2.4 Claims
5.3 Liability Insurance
5.3.1 Overview
5.3.2 Premium
5.3.3 Active policies
5.3.4 Claims
5.4 Financial Lines Insurance
5.4.1 Premium
5.4.2 Active policies
5.4.3 Claims
5.5 Marine, Aviation and Transit Insurance
5.5.1 Overview
5.5.2 Premium
5.5.3 Active policies
5.5.4 Claims
5.6 Personal Accident and Health Insurance
5.6.1 Overview
5.6.2 Premium
5.6.3 Active policies
5.6.4 Claims
6 Distribution Channel Outlook
7 Natural and Man-Made Hazards
7.1 Flooding
7.2 Earthquakes
7.3 Sandstorms
7.4 Man-Made Disasters
7.5 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 Bahrain Kuwait Insurance Company - company overview
8.1.2 Bahrain National Insurance Company - company overview
8.1.3 Axa Insurance (Gulf) Company - company overview
8.1.4 Saudi National Insurance Company - company overview
8.1.5 Gulf Union Ins. & Re. Co. - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third party liability insurance
9.4.2 Professional indemnity insurance for insurance brokers and insurance consultants
9.4.3 Social insurance law
9.4.4 Liability for ships with respect to oil pollution
9.4.5 Health insurance scheme for national employees and expatriates
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Central Bank of Bahrain
9.5.3 Bahrain Insurance Association
9.6 Non-Admitted Insurance Regulation
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and Penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margin
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Retail General Insurance by Product
10.5 Commercial General Insurance by Product
10.6 Property Insurance
10.7 Property Insurance by Product
10.8 Motor Insurance
10.9 Liability Insurance
10.1 Financial Lines Insurance
10.11 Marine, Aviation and Transit Insurance
10.12 Personal Accident and Health Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About GlobalData
12.1 Contact GlobalData
12.2 About GlobalData
12.3 GlobalDatas Services
12.4 Disclaimer

List of Tables
Table 1: Bahraini General Insurance - Key Facts, 2016
Table 2: Bahraini General Insurance - Segment Shares of the Top Insurers, 2016
Table 3: Bahraini Government Credit Ratings
Table 4: Bahraini General Insurance - Gross Written Premium (BHD Million and US$ Million), 2012-2016
Table 5: Bahraini General Insurance - Gross Written Premium by Consumer Segment (BHD Million), 2012-2016
Table 6: Bahraini General Insurance - Penetration (%), 2012-2016
Table 7: Bahraini General Insurance - Gross Written Premium (BHD Million and US$ Million), 2016-2021
Table 8: Bahraini General Insurance - Gross Written Premium by Consumer Segment (BHD Million), 2016-2021
Table 9: Bahraini General Insurance - Penetration (%), 2016-2021
Table 10: Bahraini General Insurance - Premium per Capita (BHD and US$), 2012-2016
Table 11: Bahraini General Insurance - Premium per Capita (BHD and US$), 2016-2021
Table 12: Bahraini General Insurance - Number of Active Policies (Million), 2012-2016
Table 13: Bahraini General Insurance - Number of Active Policies (Million), 2016-2021
Table 14: Bahraini General Insurance - Paid Claims (BHD Million and US$ Million), 2012-2016
Table 15: Bahraini General Insurance - Paid Claims (BHD Million and US$ Million), 2016-2021
Table 16: Bahraini General Insurance - Total Assets (BHD Million and US$ Million), 2012-2016
Table 17: Bahraini General Insurance - Total Assets (BHD Million and US$ Million), 2016-2021
Table 18: Bahraini General Insurance - Investment Portfolio (BHD Million), 2012-2016
Table 19: Bahraini General Insurance - Investment Portfolio (BHD Million), 2016-2021
Table 20: Bahraini Property Insurance - Gross Written Premium (BHD Million and US$ Million), 2012-2016
Table 21: Bahraini Property Insurance - Gross Written Premium (BHD Million and US$ Million), 2016-2021
Table 22: Bahraini Property Insurance - Number of Active Policies by Category (Thousand), 2012-2016
Table 23: Bahraini Property Insurance - Number of Active Policies by Category (Thousand), 2016-2021
Table 24: Bahraini Property Insurance - Paid Claims (BHD Million and US$ Million), 2012-2016
Table 25: Bahraini Property Insurance - Paid Claims (BHD Million and US$ Million), 2016-2021
Table 26: Bahraini Motor Insurance - Gross Written Premium (BHD Million and US$ Million), 2012-2016
Table 27: Bahraini Motor Insurance - Gross Written Premium (BHD Million and US$ Million), 2016-2021
Table 28: Bahraini Motor Insurance - Number of Active Policies (Million), 2012-2016
Table 29: Bahraini Motor Insurance - Number of Active Policies (Million), 2016-2021
Table 30: Bahraini Motor Insurance - Paid Claims (BHD Million and US$ Million), 2012-2016
Table 31: Bahraini Motor Insurance - Paid Claims (BHD Million and US$ Million), 2016-2021
Table 32: Bahraini Liability Insurance - Gross Written Premium (BHD Million and US$ Million), 2012-2016
Table 33: Bahraini Liability Insurance - Gross Written Premium (BHD Million and US$ Million), 2016-2021
Table 34: Bahraini Liability Insurance - Number of Active Policies (Thousand), 2012-2016
Table 35: Bahraini Liability Insurance - Number of Active Policies (Thousand), 2016-2021
Table 36: Bahraini Liability Insurance - Paid Claims (BHD Thousand and US$ Thousand), 2012-2016
Table 37: Bahraini Liability Insurance - Paid Claims (BHD Thousand and US$ Thousand), 2016-2021
Table 38: Bahraini Financial Lines Insurance - Gross Written Premium (BHD Million and US$ Million), 2012-2016
Table 39: Bahraini Financial Lines Insurance - Gross Written Premium (BHD Million and US$ Million), 2016-2021
Table 40: Bahraini Financial Lines Insurance - Number of Active Policies (Thousand), 2012-2016
Table 41: Bahraini Financial Lines Insurance - Number of Active Policies (Thousand), 2016-2021
Table 42: Bahraini Financial Lines Insurance - Paid Claims (BHD Thousand and US$ Thousand), 2012-2016
Table 43: Bahraini Financial Lines Insurance - Paid Claims (BHD Thousand and US$ Thousand), 2016-2021
Table 44: Bahraini Transport Network - Global Rankings
Table 45: Bahraini Marine, Aviation and Transit Insurance - Gross Written Premium (BHD Million and US$ Million), 2012-2016
Table 46: Bahraini Marine, Aviation and Transit Insurance - Gross Written Premium (BHD Million and US$ Million), 2016-2021
Table 47: Bahraini Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2012-2016
Table 48: Bahraini Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2016-2021
Table 49: Bahraini Marine, Aviation and Transit Insurance - Paid Claims (BHD Thousand and US$ Thousand), 2012-2016
Table 50: Bahraini Marine, Aviation and Transit Insurance - Paid Claims (BHD Thousand and US$ Thousand), 2016-2021
Table 51: Bahraini Personal Accident and Health Insurance - Gross Written Premium (BHD Million), 2012-2016
Table 52: Bahraini Personal Accident and Health Insurance - Gross Written Premium (BHD Million), 2016-2021
Table 53: Bahraini Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2012-2016
Table 54: Bahraini Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2016-2021
Table 55: Bahraini Personal Accident and Health Insurance - Paid Claims (BHD Million and US$ Million), 2012-2016
Table 56: Bahraini Personal Accident and Health Insurance - Paid Claims (BHD Million and US$ Million), 2016-2021
Table 57: Bahraini General Insurance - Segment Shares of the Leading Insurers (%), 2016
Table 58: Bahrain Kuwait Insurance Company - Key Facts
Table 59: Bahrain Kuwait Insurance Company - Key Financials (BHD Million), 2012-2016
Table 60: Bahrain National Insurance Company - Key Facts
Table 61: Bahrain National Insurance Company - Key Financials (BHD Million), 2012-2016
Table 62: Axa Insurance (Gulf) Company - Key Facts
Table 63: Axa Insurance (Gulf) Company - Key Financials (BHD Million), 2012-2016
Table 64: Saudi National Insurance Company - Key Facts
Table 65: Saudi National Insurance Company - Key Financials (BHD Million), 2012-2016
Table 66: Gulf Union Ins & Re. Company - Key Facts
Table 67: Gulf Union Ins & Re. Company - Key Financials (BHD Million), 2012-2016
Table 68: Bahrain - Insurance Regulatory Framework Key Features
Table 69: Bahrain - Life Insurance Regulatory Framework
Table 70: Bahrain - Property Insurance Regulatory Framework
Table 71: Bahrain - Motor Insurance Regulatory Framework
Table 72: Bahrain - Liability Insurance Regulatory Framework
Table 73: Bahraini General Insurance - Policies and Premium, 2012-2016
Table 74: Bahraini General Insurance - Policies and Premium, 2016-2021
Table 75: Bahraini General Insurance - Claims and Expenses, 2012-2016
Table 76: Bahraini General Insurance - Claims and Expenses, 2016-2021
Table 77: Bahraini General Insurance - Assets and Investments, 2012-2016
Table 78: Bahraini General Insurance - Assets and Investments, 2016-2021
Table 79: Bahraini Retail General Insurance by Product, 2012-2016
Table 80: Bahraini Retail General Insurance by Product, 2016-2021
Table 81: Bahraini Commercial General Insurance by Product, 2012-2016
Table 82: Bahraini Commercial General Insurance by Product, 2016-2021
Table 83: Bahraini General Insurance - Property Insurance, 2012-2016
Table 84: Bahraini General Insurance - Property Insurance, 2016-2021
Table 85: Bahraini General Insurance - Property Insurance by Product, 2012-2016
Table 86: Bahraini General Insurance - Property Insurance by Product, 2016-2021
Table 87: Bahraini General Insurance - Motor Insurance, 2012-2016
Table 88: Bahraini General Insurance - Motor Insurance, 2016-2021
Table 89: Bahraini General Insurance - Liability Insurance, 2012-2016
Table 90: Bahraini General Insurance - Liability Insurance, 2016-2021
Table 91: Bahraini General Insurance - Financial Lines Insurance, 2012-2016
Table 92: Bahraini General Insurance - Financial Lines Insurance, 2016-2021
Table 93: Bahraini General Insurance - Marine, Aviation and Transit Insurance, 2012-2016
Table 94: Bahraini General Insurance - Marine, Aviation and Transit Insurance, 2016-2021
Table 95: Bahraini General Insurance - Personal Accident and Health Insurance, 2012-2016
Table 96: Bahraini General Insurance - Personal Accident and Health Insurance, 2016-2021
Table 97: Insurance Industry Definitions

List of Figures
Figure 1: Bahraini Real GDP (BHD Billion), 2012-2021
Figure 2: Bahraini Inflation, Consumer Prices (%), 2012-2021
Figure 3: Bahraini Current Account Balance as Percentage of GDP (%), 2012-2021
Figure 4: Bahraini Unemployment Rate, 2012-2021
Figure 5: Bahraini Population by Age Group, 1990-2025
Figure 6: Bahraini General Insurance Penetration - Regional Comparison (%), 2016
Figure 7: Bahraini General Insurance - Gross Written Premium (BHD Million), 2012-2021
Figure 8: Bahraini General Insurance - Penetration (%), 2012-2021
Figure 9: Bahraini General Insurance - Gross Written Premium by Consumer Segment (BHD Million), 2012-2021
Figure 10: Bahraini General Insurance - Premium per Capita (BHD), 2012-2021
Figure 11: Bahraini General Insurance - Number of Active Policies (Million), 2012-2021
Figure 12: Bahraini General Insurance - Paid Claims (BHD Million), 2012-2021
Figure 13: Bahraini General Insurance - Total Assets (BHD Million), 2012-2021
Figure 14: Bahraini General Insurance - Investment Portfolio (BHD Million), 2012-2021
Figure 15: Bahraini General Insurance - Investment Portfolio Dynamics by Types of Investment, 2012-2021
Figure 16: Bahraini Property Insurance - Construction Value Output by Category (BHD Million), 2012-2021
Figure 17: Bahraini Property Insurance - Gross Written Premium (BHD Million), 2012-2021
Figure 18: Bahraini Property Insurance - Number of Active Policies by Category (Thousand), 2012-2021
Figure 19: Bahraini Property Insurance - Paid Claims (BHD Million), 2012-2021
Figure 20: Bahraini Motor Insurance - Gross Written Premium (BHD Million), 2012-2021
Figure 21: Bahraini Motor Insurance - Number of Active Policies (Million), 2012-2021
Figure 22: Bahraini Motor Insurance - Paid Claims (BHD Million), 2012-2021
Figure 23: Bahraini Liability Insurance - Gross Written Premium (BHD Million), 2012-2021
Figure 24: Bahraini Liability Insurance - Number of Active Policies (Thousand), 2012-2021
Figure 25: Bahraini Liability Insurance - Paid Claims (BHD Thousand), 2012-2021
Figure 26: Bahraini Financial Lines Insurance - Gross Written Premium (BHD Million), 2012-2021
Figure 27: Bahraini Financial Lines Insurance - Number of Active Policies (Thousand), 2012-2021
Figure 28: Bahraini Financial Lines Insurance - Paid Claims (BHD Thousand), 2012-2021
Figure 29: Bahraini Marine, Aviation and Transit Insurance - Gross Written Premium (BHD Million), 2012-2021
Figure 30: Bahraini Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2012-2021
Figure 31: Bahraini Marine, Aviation and Transit Insurance - Paid Claims (BHD Thousand), 2012-2021
Figure 32: Bahraini Personal Accident and Health Insurance - Gross Written Premium (BHD Million), 2012-2021
Figure 33: Bahraini Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2012-2021
Figure 34: Bahraini Personal Accident and Health Insurance - Paid Claims (BHD Million), 2012-2021
Figure 35: Bahraini General Insurance - Segment Shares of the Leading Insurers (%), 2016
Figure 36: Bahrain - Insurance Supervision and Control at Various Levels
Figure 37: Bahrain - Insurance Regulatory Frameworks for Company Registration and Operation

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