Boston, MA -- (ReleaseWire) -- 04/29/2014 -- As of early 2014, it appears that Bahrain's insurance sector is returning to growth, following a difficult time following the political upheaval in 2011. The overall development of the economy through the forecast period will boost premiums in both major segments.
BMI's new insurance report format provides forecasts of the life and non-life markets, including gross and net premiums, reinsurance premiums and assets. Moreover, it provides forecasts for key growth drivers such as vehicle fleet size, demographic factors and private health expenditure. The report also contains a comprehensive breakdown of the non-life insurance market, providing forecasts for motor and transport insurance, property, personal accident, health, general liability and credit insurance. Finally, the new report offers a detailed breakdown of the life and non-life competitive landscapes, covering the top companies present in each segment by premiums and market share.
View Full Report Details and Table of Contents
Key Insights And Key Risks
As of early 2014, it appears that Bahrain's insurance sector has returned to growth. As is the case in the rest of the region, the life segment is dominated by the local subsidiaries of multi-national insurers that are selling products and solutions to expatriates. Official data points to a stabilisation in life premiums in 2013.
If the economy grows and develops as BMI envisages, it is virtually certain that the number (and wealth) of expatriate workers will increase: their demand for innovative savings solutions will grow also.
Indications from the non-life segment have been mixed. According to the Central Bank of Bahrain (CBB), which regulates the insurance sector, overall premiums have been rising. Comments from particular companies, and the well-documented problems of key areas of the economy such as the construction sector, suggest that times have been hard for many players in the non-life segment. As is the case across much of the Middle East and North Africa (MENA) region, the industry is fragmented, lacking in pricing power and (with some exceptions) unable to achieve regional economies of scale. The unrest that began in early 2011 led to an increase in claims. Some companies appear to have suffered from further sharp rises in claims through 2012 and 2013 as well. For many companies, investment profits have been unimpressive.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
- China Insurance Report Q2 2014
- India Insurance Report Q2 2014
- Taiwan Insurance Report Q2 2014
- United States Insurance Report Q2 2014
- Singapore Insurance Report Q2 2014
- Brazil Insurance Report Q2 2014
- New Zealand Insurance Report Q2 2014
- Russia Insurance Report Q2 2014
- Romania Insurance Report Q2 2014
- Hungary Insurance Report Q2 2014