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The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017
Synopsis
The report provides in-depth industry analysis, information and insights into the insurance industry in Bahrain, including:
The Bahraini insurance industry’s growth prospects by insurance segments and categories The competitive landscape in the Bahraini insurance industry
The current trends and drivers of the Bahraini insurance industry Challenges facing the Bahraini insurance industry Detailed regulatory framework of the
Bahraini insurance industry A benchmarking section on the Bahraini insurance industry in comparison to other countries in the Middle East region Executive
summary
Despite its small size, the Bahraini insurance industry is well developed and highly regulated. The industry grew at a review-period (2008–2012)
compound annual growth rate (CAGR) of 3.8%, driven by an increase in the infrastructural projects, the implementation of compulsory motor third-party liability
insurance, the rising number of health conditions and a steadily growing population. The industry is expected to face challenges over the forecast period
(2012–2017). The high combined ratios of non-life insurance companies, which are expected to continue to exceed 100%, and political unrest in the
country will put pressure on the industry’s overall profitability. However, despite such challenges, Bahrain’s insurance industry is anticipated to
rise at a forecast-period CAGR of 7.8%, driven instead by the huge growth potential realized by foreign investors, regulatory reforms and government efforts to
support growth.
Scope
This report provides a comprehensive analysis of the insurance industry in Bahrain:
It provides historical values for the Bahraini insurance industry for the report’s 2008–2012 review period and projected figures for the
2012–2017 forecast period. It offers a detailed analysis of the key segments and categories in the Bahraini insurance industry, along with forecasts until
2017. It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total
investment income and retentions. It profiles the top insurance companies in Bahrain, and outlines the key regulations affecting them.
Reasons to buy
Make strategic business decisions using in-depth historic and forecast industry data related to the Bahraini insurance industry and each segment within it.
Understand the demand-side dynamics, key trends and growth opportunities within the Bahraini insurance industry. Assess the competitive dynamics in the
Bahraini insurance industry. Identify the growth opportunities and market dynamics within key segments. Gain insights into key regulations governing the
Bahraini insurance industry and its impact on companies and the industry's future.
Key highlights
The Bahraini insurance industry grew at a review-period CAGR of 3.8% The non-life segment was supported by strong growth in the property insurance
category, which registered a review-period CAGR of 7.4% The motor insurance category also registered growth during the review period, due to the
implementation of compulsory motor third-party liability insurance in the country The personal accident and health segment registered the fastest growth in the
industry during the review period, at a CAGR of 10.2% The 10-leading insurers collectively held an industry share of 84.5% in 2012 As of 2012, there were 12
domestic insurance firms licensed to conduct insurance business in the country, and eight branch offices of overseas entities
table Of Contents

1 Executive Summary

2 Introduction
2.1 What Is This Report About?
2.2 Definitions
2.3 Methodology

3 The Middle East Region Market Dynamics
3.1 Overview
3.1.1 Market Trends
3.1.2 Market Size
3.2 Life Insurance – Regional Benchmarking
3.2.1 Scale And Penetration
3.2.2 Growth
3.2.3 Efficiency And Risk
3.3 Non-life Insurance – Regional Benchmarking
3.3.1 Scale And Penetration
3.3.2 Growth
3.3.3 Efficiency And Risk
3.4 Personal Accident And Health Insurance – Regional Benchmarking
3.4.1 Scale And Penetration
3.4.2 Growth
3.4.3 Efficiency And Risk

4 Bahraini Insurance Industry Overview
4.1 Insurance Industry Size, 2008–2017
4.2 Key Industry Trends And Drivers
The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017
4.3 Challenges

5 Life Insurance
5.1 Life Insurance Growth Prospects By Category
5.1.1 Individual Life Insurance
5.1.2 Group Life Insurance

6 Non-life Insurance
6.1 Non-life Insurance Growth Prospects By Category
6.2 Property Insurance
6.2.1 Fire And Allied Perils Insurance
6.2.2 Engineering Insurance
6.2.3 Other Property Insurance
6.3 Motor Insurance
6.3.1 Motor Hull Insurance
6.3.2 Motor Third-party Insurance
6.4 General Third-party Insurance
6.5 Marine, Aviation And Transit Insurance
6.5.1 Marine Insurance
6.5.2 Aviation Insurance
6.5.3 Transit Insurance

7 Personal Accident And Health Insurance
7.1 Personal Accident And Health Insurance Growth Prospects By Category
7.1.1 Personal Accident
7.1.2 Travel Insurance
7.1.3 Health Insurance

8 Reinsurance
8.1 Reinsurance Segment Size, 2008–2017
8.2 Reinsurance Segment Size By Type Of Insurance, 2008–2017

9 Analysis By Distribution Channels
9.1 Life Insurance
9.1.1 Direct Marketing
9.1.2 Bancassurance
9.1.3 Agencies
9.1.4 E-commerce
9.1.5 Brokers
9.2 Non-life Insurance
9.2.1 Direct Marketing
9.2.2 Bancassurance
9.2.3 Agencies
9.2.4 E-commerce
9.2.5 Brokers
9.2.6 Other Channels
9.3 Personal Accident And Health Insurance
9.3.1 Direct Marketing
9.3.2 Bancassurance
9.3.3 Agencies
9.3.4 E-commerce
9.3.5 Brokers
9.3.6 Other Channels

10 Governance, Risk And Compliance
10.1 Legislation Overview And Historical Evolution
10.2 Legislation And Market Practice By Type Of Insurance
10.2.1 Life Insurance
10.2.2 Property Insurance
10.2.3 Motor Insurance
10.2.4 Marine, Aviation And Transit Insurance
10.2.5 Personal Accident And Health Insurance
The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017
10.3 Compulsory Insurance
10.3.1 Motor Third-party Liability Insurance
10.3.2 Professional Indemnity Insurance For Insurance Brokers And Insurance Consultants
10.3.3 Social Insurance Law
10.4 Supervision And Control
10.4.1 International Association Of Insurance Supervisors (iais)
10.4.2 Central Bank Of Bahrain (cbb)
10.5 Non-admitted Insurance Regulations
10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market Practices
10.5.4 Fines And Penalties
10.6 Company Registration And Operations
10.6.1 Types Of Insurance Organization
10.6.2 Establishing A Local Company
10.6.3 Foreign Ownership
10.6.4 Types Of License
10.6.5 Capital Requirements
10.6.6 Solvency Margins
10.6.7 Reserve Requirements
10.6.8 Investment Regulations
10.6.9 Statutory Return Requirements
10.6.10 Fee Structure
10.7 Taxation
10.7.1 Insurance Premium Or Policy Taxation
10.7.2 Withholding Taxes On Premium Paid Overseas
10.7.3 Corporate Tax
10.7.4 Vat
10.7.5 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access To Court
10.8.3 Alternative Dispute Resolution (adr)

11 Competitive Landscape
11.1 Overview
11.2 Leading Companies
11.2.1 Bahrain Kuwait Insurance Co. – Company Overview
11.2.2 Life Ins. Corporation (international) – Company Overview
11.2.3 Axa Insurance (gulf) Co. – Company Overview
11.2.4 American Life Insurance Co. – Company Overview
11.2.5 Ace American Insurance Co. – Company Overview

12 Economic Indicators
12.1 Market Capitalization Trend – Bahrain Stock Exchange (bse), Bahrain
12.2 Gdp At Constant Prices (us$)
12.3 Gdp Per Capita At Constant Prices (us$)
12.4 Gdp At Current Prices (us$)
12.5 Gdp Per Capita At Current Prices (us$)
12.6 Inflation Rate
12.7 Exports As A Percentage Of Gdp
12.8 Imports As A Percentage Of Gdp
12.9 Total Internet Subscribers
12.10 Labor Force
12.11 Total Population
12.12 Urban And Rural Populations

13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric’s Services
13.5 Disclaimer
ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your
The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017
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The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017

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The Insurance Industry in Bahrain Key Trends and Opportunities to 2017:Latest Industry Size Research Report

  • 1. The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017 Synopsis The report provides in-depth industry analysis, information and insights into the insurance industry in Bahrain, including: The Bahraini insurance industry’s growth prospects by insurance segments and categories The competitive landscape in the Bahraini insurance industry The current trends and drivers of the Bahraini insurance industry Challenges facing the Bahraini insurance industry Detailed regulatory framework of the Bahraini insurance industry A benchmarking section on the Bahraini insurance industry in comparison to other countries in the Middle East region Executive summary Despite its small size, the Bahraini insurance industry is well developed and highly regulated. The industry grew at a review-period (2008–2012) compound annual growth rate (CAGR) of 3.8%, driven by an increase in the infrastructural projects, the implementation of compulsory motor third-party liability insurance, the rising number of health conditions and a steadily growing population. The industry is expected to face challenges over the forecast period (2012–2017). The high combined ratios of non-life insurance companies, which are expected to continue to exceed 100%, and political unrest in the country will put pressure on the industry’s overall profitability. However, despite such challenges, Bahrain’s insurance industry is anticipated to rise at a forecast-period CAGR of 7.8%, driven instead by the huge growth potential realized by foreign investors, regulatory reforms and government efforts to support growth. Scope This report provides a comprehensive analysis of the insurance industry in Bahrain: It provides historical values for the Bahraini insurance industry for the report’s 2008–2012 review period and projected figures for the 2012–2017 forecast period. It offers a detailed analysis of the key segments and categories in the Bahraini insurance industry, along with forecasts until 2017. It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions. It profiles the top insurance companies in Bahrain, and outlines the key regulations affecting them. Reasons to buy Make strategic business decisions using in-depth historic and forecast industry data related to the Bahraini insurance industry and each segment within it. Understand the demand-side dynamics, key trends and growth opportunities within the Bahraini insurance industry. Assess the competitive dynamics in the Bahraini insurance industry. Identify the growth opportunities and market dynamics within key segments. Gain insights into key regulations governing the Bahraini insurance industry and its impact on companies and the industry's future. Key highlights The Bahraini insurance industry grew at a review-period CAGR of 3.8% The non-life segment was supported by strong growth in the property insurance category, which registered a review-period CAGR of 7.4% The motor insurance category also registered growth during the review period, due to the implementation of compulsory motor third-party liability insurance in the country The personal accident and health segment registered the fastest growth in the industry during the review period, at a CAGR of 10.2% The 10-leading insurers collectively held an industry share of 84.5% in 2012 As of 2012, there were 12 domestic insurance firms licensed to conduct insurance business in the country, and eight branch offices of overseas entities table Of Contents 1 Executive Summary 2 Introduction 2.1 What Is This Report About? 2.2 Definitions 2.3 Methodology 3 The Middle East Region Market Dynamics 3.1 Overview 3.1.1 Market Trends 3.1.2 Market Size 3.2 Life Insurance – Regional Benchmarking 3.2.1 Scale And Penetration 3.2.2 Growth 3.2.3 Efficiency And Risk 3.3 Non-life Insurance – Regional Benchmarking 3.3.1 Scale And Penetration 3.3.2 Growth 3.3.3 Efficiency And Risk 3.4 Personal Accident And Health Insurance – Regional Benchmarking 3.4.1 Scale And Penetration 3.4.2 Growth 3.4.3 Efficiency And Risk 4 Bahraini Insurance Industry Overview 4.1 Insurance Industry Size, 2008–2017 4.2 Key Industry Trends And Drivers The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017
  • 2. 4.3 Challenges 5 Life Insurance 5.1 Life Insurance Growth Prospects By Category 5.1.1 Individual Life Insurance 5.1.2 Group Life Insurance 6 Non-life Insurance 6.1 Non-life Insurance Growth Prospects By Category 6.2 Property Insurance 6.2.1 Fire And Allied Perils Insurance 6.2.2 Engineering Insurance 6.2.3 Other Property Insurance 6.3 Motor Insurance 6.3.1 Motor Hull Insurance 6.3.2 Motor Third-party Insurance 6.4 General Third-party Insurance 6.5 Marine, Aviation And Transit Insurance 6.5.1 Marine Insurance 6.5.2 Aviation Insurance 6.5.3 Transit Insurance 7 Personal Accident And Health Insurance 7.1 Personal Accident And Health Insurance Growth Prospects By Category 7.1.1 Personal Accident 7.1.2 Travel Insurance 7.1.3 Health Insurance 8 Reinsurance 8.1 Reinsurance Segment Size, 2008–2017 8.2 Reinsurance Segment Size By Type Of Insurance, 2008–2017 9 Analysis By Distribution Channels 9.1 Life Insurance 9.1.1 Direct Marketing 9.1.2 Bancassurance 9.1.3 Agencies 9.1.4 E-commerce 9.1.5 Brokers 9.2 Non-life Insurance 9.2.1 Direct Marketing 9.2.2 Bancassurance 9.2.3 Agencies 9.2.4 E-commerce 9.2.5 Brokers 9.2.6 Other Channels 9.3 Personal Accident And Health Insurance 9.3.1 Direct Marketing 9.3.2 Bancassurance 9.3.3 Agencies 9.3.4 E-commerce 9.3.5 Brokers 9.3.6 Other Channels 10 Governance, Risk And Compliance 10.1 Legislation Overview And Historical Evolution 10.2 Legislation And Market Practice By Type Of Insurance 10.2.1 Life Insurance 10.2.2 Property Insurance 10.2.3 Motor Insurance 10.2.4 Marine, Aviation And Transit Insurance 10.2.5 Personal Accident And Health Insurance The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017
  • 3. 10.3 Compulsory Insurance 10.3.1 Motor Third-party Liability Insurance 10.3.2 Professional Indemnity Insurance For Insurance Brokers And Insurance Consultants 10.3.3 Social Insurance Law 10.4 Supervision And Control 10.4.1 International Association Of Insurance Supervisors (iais) 10.4.2 Central Bank Of Bahrain (cbb) 10.5 Non-admitted Insurance Regulations 10.5.1 Overview 10.5.2 Intermediaries 10.5.3 Market Practices 10.5.4 Fines And Penalties 10.6 Company Registration And Operations 10.6.1 Types Of Insurance Organization 10.6.2 Establishing A Local Company 10.6.3 Foreign Ownership 10.6.4 Types Of License 10.6.5 Capital Requirements 10.6.6 Solvency Margins 10.6.7 Reserve Requirements 10.6.8 Investment Regulations 10.6.9 Statutory Return Requirements 10.6.10 Fee Structure 10.7 Taxation 10.7.1 Insurance Premium Or Policy Taxation 10.7.2 Withholding Taxes On Premium Paid Overseas 10.7.3 Corporate Tax 10.7.4 Vat 10.7.5 Captives 10.8 Legal System 10.8.1 Introduction 10.8.2 Access To Court 10.8.3 Alternative Dispute Resolution (adr) 11 Competitive Landscape 11.1 Overview 11.2 Leading Companies 11.2.1 Bahrain Kuwait Insurance Co. – Company Overview 11.2.2 Life Ins. Corporation (international) – Company Overview 11.2.3 Axa Insurance (gulf) Co. – Company Overview 11.2.4 American Life Insurance Co. – Company Overview 11.2.5 Ace American Insurance Co. – Company Overview 12 Economic Indicators 12.1 Market Capitalization Trend – Bahrain Stock Exchange (bse), Bahrain 12.2 Gdp At Constant Prices (us$) 12.3 Gdp Per Capita At Constant Prices (us$) 12.4 Gdp At Current Prices (us$) 12.5 Gdp Per Capita At Current Prices (us$) 12.6 Inflation Rate 12.7 Exports As A Percentage Of Gdp 12.8 Imports As A Percentage Of Gdp 12.9 Total Internet Subscribers 12.10 Labor Force 12.11 Total Population 12.12 Urban And Rural Populations 13 Appendix 13.1 Methodology 13.2 Contact Timetric 13.3 About Timetric 13.4 Timetric’s Services 13.5 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017
  • 4. research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ The Insurance Industry in Bahrain, Key Trends and Opportunities to 2017