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Non-Life Insurance in Bahrain, Key Trends and Opportunities to 2020

Published By :

Timetric

Published Date : Jul 2017

Category :

Insurance

No. of Pages : 113 Pages

Synopsis
Timetrics 'Non-Life Insurance in Bahrain, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Bahraini non-life 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 (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, 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 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 'Non-Life Insurance in Bahrain, key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Bahraini non-life insurance segment, including:

The Bahraini non-life segment outlook by product category

A comprehensive overview of the Bahraini economy and demographics

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

The various distribution channels in the Bahraini non-life insurance segment

Detailed analysis of natural hazards and their impact on the Bahraini insurance industry

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

Details of regulatory policy applicable to the Bahraini insurance industry

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

It provides historical values for the Bahraini non-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 non-life insurance segment, and market forecasts to 2020.

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

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

It analyzes various natural hazards and their impact on the Bahraini insurance industry

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

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

Assess the competitive dynamics in the non-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 October 2016, the Central Bank of Bahrain organised a cybersecurity roundtable session to increase awareness of cyber-risks and develop the current Information Technology (IT) trends.

In 2015, Bahrain was the 79th largest export economy in the world, and ranked 54th in the Economic Complexity Index (ECI).

In 2015, according to PreventionWeb, the average loss due to tremors stood at BHD9.8 million (US$25.7 million).

In 2015, Bahrains insurance industry consisted of 25 local firms and 11 overseas firms, which carry out insurance, reinsurance, takaful and retakaful.

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 Profitability
4.2.5 Assets and investments
5 OUTLOOK BY CATEGORY
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies sold
5.1.4 Claims
5.1.5 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies sold
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies sold
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies sold
5.4.4 Claims
5.4.5 Profitability
6 DISTRIBUTION CHANNEL OUTLOOK
6.1 Analysis by Distribution Channel
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 National Insurance Company company overview
8.1.2 Bahrain Kuwait Insurance Company company overview
8.1.3 ACE American Insurance Company company overview
8.1.4 Axa Insurance (Gulf) Company company overview
8.1.5 Saudi National Insurance Company 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 Property Insurance
10.5 Property Insurance by Product
10.6 Motor Insurance
10.7 Liability Insurance
10.8 Marine, Aviation and Transit Insurance
11 DEFINITIONS AND METHODOLOGY
11.1 Definitions
11.2 Methodology
12 ABOUT TIMETRIC
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetrics Services
12.4 Disclaimer



List of Tables
Table 1: Bahraini Non-Life Insurance Key Facts, 2015
Table 2: Bahraini Non-Life Insurance Segment Shares of the Top Insurers, 2015
Table 3: Bahraini Government Credit Ratings
Table 4: Bahraini Non-Life Insurance Gross Written Premium (BHD Million and US$ Million), 20112015
Table 5: Bahraini Non-Life Insurance Penetration (%), 20112015
Table 6: Bahraini Non-Life Insurance Gross Written Premium (BHD Million and US$ Million), 20152020
Table 7: Bahraini Non-Life Insurance Penetration (%), 20152020
Table 8: Bahraini Non-Life Insurance Premium per Capita (BHD and US$), 20112015
Table 9: Bahraini Non-Life Insurance Premium per Capita (BHD and US$), 20152020
Table 10: Bahraini Non-Life Insurance Number of Policies Sold (Million), 20112015
Table 11: Bahraini Non-Life Insurance Number of Policies Sold (Million), 20152020
Table 12: Bahraini Non-Life Insurance Paid Claims (BHD Million and US$ Million), 20112015
Table 13: Bahraini Non-Life Insurance Paid Claims (BHD Million and US$ Million), 20152020
Table 14: Bahraini Non-Life Insurance Profitability Ratio (%), 20112015
Table 15: Bahraini Non-Life Insurance Profitability Ratio (%), 20152020
Table 16: Bahraini Non-Life Insurance Total Assets (BHD Million and US$ Billion), 20112015
Table 17: Bahraini Non-Life Insurance Total Assets (BHD Million and US$ Billion), 20152020
Table 18: Bahraini Non-Life Insurance Total Investment Income (BHD Million and US$ Million), 20112015
Table 19: Bahraini Non-Life Insurance Total Investment Income (BHD Million and US$ Million), 20152020
Table 20: Bahraini Non-Life Insurance Investment Portfolio (BHD Million), 20112015
Table 21: Bahraini Non-Life Insurance Investment Portfolio (BHD Million), 20152020
Table 22: Bahraini Non-Life Insurance Direct Written Premium by Category (BHD Million), 20112015
Table 23: Bahraini Non-Life Insurance Direct Written Premium by Category (BHD Million), 20152020
Table 24: Bahraini Property Insurance Direct Written Premium by Sub-Category (BHD Billion), 20112015
Table 25: Bahraini Property Insurance Direct Written Premium by Sub-Category (BHD Billion), 20152020
Table 26: Bahraini Property Insurance Number of Policies Sold by Sub-Category (Thousand), 20112015
Table 27: Bahraini Property Insurance Number of Policies Sold by Sub-Category (Thousand), 20152020
Table 28: Bahraini Property Insurance Paid Claims (BHD Million and US$ Million), 20112015
Table 29: Bahraini Property Insurance Paid Claims (BHD Million and US$ Million), 20152020
Table 30: Bahraini Property Insurance Loss Ratio (%), 20112015
Table 31: Bahraini Property Insurance Loss Ratio (%), 20152020
Table 32: Bahraini Motor Insurance Direct Written Premium (BHD Million), 20112015
Table 33: Bahraini Insurance Direct Written Premium (BHD Million), 20152020
Table 34: Bahraini Motor Insurance Number of Policies Sold (Million), 20112015
Table 35: Bahraini Motor Insurance Number of Policies Sold (Million), 20152020
Table 36: Bahraini Motor Insurance Paid Claims (BHD Million and US$ Million), 20112015
Table 37: Bahraini Motor Insurance Paid Claims (BHD Million and US$ Million), 20152020
Table 38: Bahraini Motor Insurance Loss Ratio (%), 20112015
Table 39: Bahraini Motor Insurance Loss Ratio (%), 20152020
Table 40: Bahraini Liability Insurance Direct Written Premium (BHD Million), 20112015
Table 41: Bahraini Liability Insurance Direct Written Premium (BHD Million), 20152020
Table 42: Bahraini Liability Insurance Number of Policies Sold (Thousand), 20112015
Table 43: Bahraini Liability Insurance Number of Policies Sold (Thousand), 20152020
Table 44: Bahraini Liability Insurance Paid Claims (BHD Thousand and US$ Million), 20112015
Table 45: Bahraini Liability Insurance Paid Claims (BHD Thousand and US$ Million), 20152020
Table 46: Bahraini Liability Insurance Loss Ratio (%), 20112015
Table 47: Bahraini Liability Insurance Loss Ratio (%), 20152020
Table 48: Bahraini Transport Network Global Rankings
Table 49: Bahraini Marine, Aviation and Transit Insurance Direct Written Premium (BHD Million), 20112015
Table 50: Bahraini Marine, Aviation and Transit Insurance Direct Written Premium (BHD Million), 20152020
Table 51: Bahraini Marine, Aviation and Transit Insurance Number of Policies Sold (Thousand), 20112015
Table 52: Bahraini Marine, Aviation and Transit Insurance Number of Policies Sold (Thousand), 20152020
Table 53: Bahraini Marine, Aviation and Transit Insurance Paid Claims (BHD Thousand and US$ Thousand), 20112015
Table 54: Bahraini Marine, Aviation and Transit Insurance Paid Claims (BHD Thousand and US$ Thousand), 20152020
Table 55: Bahraini Marine, Aviation and Transit Insurance Loss Ratio (%), 20112015
Table 56: Bahraini Marine, Aviation and Transit Insurance Loss Ratio (%), 20152020
Table 57: Bahraini Non-Life Segment Market Shares of Leading Insurers (%), 2015
Table 58: Bahrain National Insurance Company Key Facts
Table 59: Bahrain National Insurance Company Key Financials (BHD Million), 20112015
Table 60: Bahrain Kuwait Insurance Company Key Facts
Table 61: ACE American Insurance Company Key Facts
Table 62: ACE American Insurance Company Key Financials (BHD Million), 20112015
Table 63: Axa Insurance (Gulf) Company Key Facts
Table 64: Saudi National Insurance Company Key Facts
Table 65: Bahrain Insurance Regulatory Framework Key Features
Table 66: Bahrain Life Insurance Regulatory Framework
Table 67: Bahrain Property Insurance Regulatory Framework
Table 68: Bahrain Motor Insurance Regulatory Framework
Table 69: Bahrain Liability Insurance Regulatory Framework
Table 70: Bahraini Insurance Industry Policies and Premium, 20112015
Table 71: Bahraini Insurance Industry Policies and Premium, 20152020
Table 72: Bahraini Non-Life Insurance Claims and Expenses, 20112015
Table 73: Bahraini Non-Life Insurance Claims and Expenses, 20152020
Table 74: Bahraini Non-Life Insurance Assets and Investments, 20112015
Table 75: Bahraini Non-Life Insurance Assets and Investments, 20152020
Table 76: Bahraini Non-Life Insurance Property Insurance, 20112015
Table 77: Bahraini Non-Life Insurance Property Insurance, 20152020
Table 78: Bahraini Non-Life Insurance Property Insurance by Product, 20112015
Table 79: Bahraini Non-Life Insurance Property Insurance by Product, 20152020
Table 80: Bahraini Non-Life Insurance Motor Insurance, 20112015
Table 81: Bahraini Non-Life Insurance Motor Insurance, 20152020
Table 82: Bahraini Non-Life Insurance Liability Insurance, 20112015
Table 83: Bahraini Non-Life Insurance Liability Insurance, 20152020
Table 84: Bahraini Non-Life Insurance Marine, Aviation and Transit Insurance, 20112015
Table 85: Bahraini Non-Life Insurance Marine, Aviation and Transit Insurance, 20152020
Table 86: 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 Non-Life Insurance Penetration Regional Comparison (%), 2015
Figure 8: Bahraini Insurance Segment Direct Written Premium Shares Regional Comparison (%), 2015
Figure 9: Bahraini Non-Life Insurance Gross Written Premium (BHD Million), 20112020
Figure 10: Bahraini Non-Life Insurance Penetration (%), 20112020
Figure 11: Bahraini Non-Life Insurance Premium per Capita (BHD), 20112020
Figure 12: Bahraini Non-Life Insurance Number of Policies Sold (Million), 20112020
Figure 13: Bahraini Non-Life Insurance Paid Claims (BHD Million), 20112020
Figure 14: Bahraini Non-Life Insurance Profitability Ratio (%), 20112020
Figure 15: Bahraini Non-Life Insurance Total Assets (BHD Million), 20112020
Figure 16: Bahraini Non-Life Insurance Total Investment Income (BHD Million), 20112020
Figure 17: Bahraini Non-Life Insurance Investment Portfolio (BHD Million), 20112020
Figure 18: Bahraini Non-Life Insurance Investment Portfolio Dynamics by Category, 20112020
Figure 19: Bahraini Non-Life Insurance Direct Written Premium by Category (BHD Million), 20112020
Figure 20: Bahraini Non-Life Insurance Direct Written Premium Dynamics by Category, 20112020
Figure 21: Bahraini Property Insurance Construction Value Output by Category (BHD Million), 20122021
Figure 22: Bahraini Property Insurance Direct Written Premium by Sub-Category (BHD Million), 20112020
Figure 23: Bahraini Property Insurance Direct Written Premium Dynamics by Sub-Category, 20112020
Figure 24: Bahraini Property Insurance Number of Policies Sold by Sub-Category (Thousand), 20112020
Figure 25: Bahraini Property Insurance Paid Claims (BHD Million), 20112020
Figure 26: Bahraini Property Insurance Earned Premium, Incurred Loss and Loss Ratio (BHD Million and %), 20112020
Figure 27: Type of Injuries in Road Accidents in Bahrain by Category, 2016
Figure 28: Number of Vehicle Sales in Bahrain, 20112015
Figure 29: Bahraini Motor Insurance Direct Written Premium (BHD Million), 20112020
Figure 30: Bahraini Motor Insurance Number of Policies Sold (Million), 20112020
Figure 31: Bahraini Motor Insurance Paid Claims (BHD Million), 20112020
Figure 32: Bahraini Motor Insurance Earned Premium, Incurred Loss and Loss Ratio (BHD Billion and %), 20112020
Figure 33: Bahraini Liability Insurance Direct Written Premium (BHD Million), 20112020
Figure 34: Bahraini Liability Insurance Number of Policies Sold (Thousand), 20112020
Figure 35: Bahraini Liability Insurance Paid Claims (BHD Thousand), 20112020
Figure 36: Bahraini Liability Insurance Earned Premium, Incurred Loss and Loss Ratio (BHD Billion and %), 20112020
Figure 37: Bahraini Marine, Aviation and Transit Insurance Direct Written Premium (BHD Million), 20112020
Figure 38: Bahraini Marine, Aviation and Transit Insurance Number of Policies Sold (Thousand), 20112020
Figure 39: Bahraini Marine, Aviation and Transit Insurance Paid Claims (BHD Thousand), 20112020
Figure 40: Bahraini Marine, Aviation and Transit Insurance Earned Premium, Incurred Loss and Loss Ratio (BHD Million and %), 20112020
Figure 41: Bahraini Non-Life Segment Market Shares of Leading Insurers (%), 2015
Figure 42: Bahrain Insurance Supervision and Control at Various Levels
Figure 43: Bahrain Insurance Regulatory Frameworks for Company Registration and Operation

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