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Life Insurance in Bahrain, Key Trends and Opportunities to 2020

Published By :

Timetric

Published Date : Jul 2017

Category :

Insurance

No. of Pages : 80 Pages

Synopsis
Timetrics 'Life Insurance in Bahrain, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Bahraini life insurance segment, and a comparison of the Bahraini insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (20112015) and forecast period (20152020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bahraini economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetrics 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.

Summary
Timetrics 'Life Insurance in Bahrain. Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Bahraini life insurance segment, including:

An overview of the Bahraini life insurance segment

The Bahraini life insurance segments growth prospects by category

A comprehensive overview of the Bahraini economy and demographics

A comparison of the Bahraini life insurance segment with its regional counterparts

The various distribution channels in the Bahraini life insurance segment

Details of the competitive landscape in the life insurance segment in Bahrain

Details of regulatory policy applicable to the Bahraini insurance industry

Scope
This report provides a comprehensive analysis of the life insurance segment in Bahrain:

It provides historical values for the Bahraini life insurance segment for the reports 20112015 review period, and projected figures for the 20152020 forecast period.

It offers a detailed analysis of the key categories in the Bahraini life insurance segment, and market forecasts to 2020.

It provides a comparison of the Bahraini life insurance segment with its regional counterparts

It analyzes the various distribution channels for life insurance products in Bahrain.

It profiles the top life 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 life insurance segment, and each category within it.

Understand the demand-side dynamics, key market trends and growth opportunities in the Bahraini life insurance segment.

Assess the competitive dynamics in the life 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.

Key Highlights
In March 2017, State Bank of India (SBI) Life announced plans to enter the Bahraini insurance industry by 2018. It is currently waiting for approval from the Central Bank of Bahrain (CBB).

In 2015, the Bahraini insurance industry comprised 25 domestic and 11 foreign insurers, which carry out insurance, reinsurance, takaful and retakaful business.

In April 2015, Zurich International Life reduced its number of licenses from three to two. This was to simplify its legal structure and provide more resources to loyal customers.


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 Policies sold
4.2.3 Claims
4.2.4 Assets and investments
5 DISTRIBUTION CHANNEL OUTLOOK
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Life Insurance Corporation (International) Company company overview
6.1.2 American Life Insurance Company company overview
6.1.3 Zurich International Life Ltd company overview
6.1.4 Bahrain National Life Assurance Company company overview
6.1.5 Al Hilal Life Insurance Company company overview
7 GOVERNANCE, RISK AND COMPLIANCE
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulation
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Motor third party liability insurance
7.4.2 Professional indemnity insurance for insurance brokers and insurance consultants
7.4.3 Social insurance law
7.4.4 Liability for ships with respect to oil pollution
7.4.5 Health insurance scheme for national employees and expatriates
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors
7.5.2 Central Bank of Bahrain
7.5.3 Bahrain Insurance Association
7.6 Non-Admitted Insurance Regulation
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and Penalties
7.7 Company Registration and Operations
7.7.1 Type of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margin
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)
8 DATABOOK
8.1 Policies and Premium
8.2 Claims and Expenses
8.3 Assets and Investments
9 DEFINITIONS AND METHODOLOGY
9.1 Definitions
9.2 Methodology
10 ABOUT TIMETRIC
10.1 Contact Timetric
10.2 About Timetric
10.3 Timetrics Services
10.4 Disclaimer


List of Tables
Table 1: Bahraini Life Insurance Key Facts, 2015
Table 2: Bahraini Life Insurance Segment Shares of Insurers, 2015
Table 3: Bahraini Government Credit Ratings
Table 4: Bahraini Life Insurance Gross Written Premium (BHD Million and US$ Million), 20112015
Table 5: Bahraini Life Insurance Penetration (%), 20112015
Table 6: Bahraini Life Insurance Gross Written Premium (BHD Million and US$ Million), 20152020
Table 7: Bahraini Life Insurance Penetration (%), 20152020
Table 8: Bahraini Life Insurance Premium per Capita (BHD and US$), 20112015
Table 9: Bahraini Life Insurance Premium per Capita (BHD and US$), 20152020
Table 10: Bahraini Life Insurance Number of Policies Sold (Thousand), 20112015
Table 11: Bahraini Life Insurance Number of Policies Sold (Thousand), 20152020
Table 12: Bahraini Life Insurance Paid Claims (BHD Million and US$ Million), 20112015
Table 13: Bahraini Life Insurance Paid Claims (BHD Million and US$ Million), 20152020
Table 14: Bahraini Life Insurance Total Assets (BHD Million and US$ Billion), 20112015
Table 15: Bahraini Life Insurance Total Assets (BHD Million and US$ Billion), 20152020
Table 16: Bahraini Life Insurance Total Investment Income (BHD Thousand and US$ Thousand), 20112015
Table 17: Bahraini Life Insurance Total Investment Income (BHD Thousand and US$ Thousand), 20152020
Table 18: Bahraini Life Insurance Investment Portfolio (BHD Billion), 20112015
Table 19: Bahraini Life Insurance Investment Portfolio (BHD Billion), 20152020
Table 20: Bahraini Life Segment Market Shares of Leading Insurers (%), 2015
Table 21: Life Insurance Corporation (International) Insurance Company Key Facts
Table 22: Life Insurance Corporation (International) Insurance Company Key Financials (BHD Million), 20112015
Table 23: American Life Insurance Company Key Facts
Table 24 Zurich International Life Ltd Insurance Company Key Facts
Table 25: Zurich International Life Ltd Insurance Company Key Financials (BHD Million), 20112015
Table 26: Bahrain National Life Assurance Insurance Company Key Facts
Table 27: Al Hilal Life Insurance Company Key Facts
Table 28: Al Hilal Life Insurance Company Key Financials (BHD Million), 20112015
Table 29: Bahrain Insurance Regulatory Framework Key Features
Table 30: Bahrain Life Insurance Regulatory Framework
Table 31: Bahrain Property Insurance Regulatory Framework
Table 32: Bahrain Motor Insurance Regulatory Framework
Table 33: Bahrain Liability Insurance Regulatory Framework
Table 34: Bahraini Life Insurance Policies and Premium, 20112015
Table 35: Bahraini Life Insurance Policies and Premium, 20152020
Table 36: Bahraini Life Insurance Claims and Expenses, 20112015
Table 37: Bahraini Life Insurance Claims and Expenses, 20152020
Table 38: Bahraini Life Insurance Assets and Investments, 20112015
Table 39: Bahraini Life Insurance Assets and Investments, 20152020
Table 40: Insurance Industry Definitions


List of Figures
Figure 1: Bahraini Real GDP (US$ Billion), 20112020
Figure 2: Bahraini Consumer Price Inflation (%), 20112020
Figure 3: BHD-US$ Exchange Rate, 20112020
Figure 4: Bahraini Current Account Balance as Percentage of GDP (%), 20112020
Figure 5: Bahraini Unemployment Rate, 20112020
Figure 6: Bahraini Population by Age Group, 19912025
Figure 7: Bahraini Life Insurance Penetration Regional Comparison (%), 2015
Figure 8: Bahraini Insurance Segment Direct Written Premium Shares Regional Comparison (%), 2015
Figure 9: Bahraini Life Insurance Gross Written Premium (BHD Million), 20112020
Figure 10: Bahraini Life Insurance Penetration (%), 20112020
Figure 11: Bahraini Life Insurance Premium per Capita (BHD), 20112020
Figure 12: Bahraini Life Insurance Number of Policies Sold (Thousand), 20112020
Figure 13: Bahraini Life Insurance Paid Claims (BHD Million), 20112020
Figure 14: Bahraini Life Insurance Total Assets (BHD Million), 20112020
Figure 15: Bahraini Life Insurance Total Investment Income (BHD Thousand), 20112020
Figure 16: Bahraini Life Insurance Investment Portfolio (BHD Million), 20112020
Figure 17: Bahraini Life Insurance Investment Portfolio Dynamics by Category, 20112020
Figure 18: Bahraini Life Segment Market Shares of Leading Insurers (%), 2015
Figure 19: Bahrain Insurance Supervision and Control at Various Levels
Figure 20: Bahrain Insurance Regulatory Frameworks for Company Registration and Operation

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