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Bahrain Insurance Report Q1 2014

Bahrain Insurance Market: New market analysis released


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2014-04-02 11:53:02 - Bahrain Insurance Report Q1 2014 - a new market research report on companiesandmarkets.com

As of late 2013, it appears that Bahrain´s insurance sector is in something of a hiatus. Looking forward, we expect that competitive pressures facing the non-life companies will constrain the growth of that segment. We are, however, cautiously optimistic about the prospects for the life segment.

Key Insights And Key Risks As of late 2013, it appears that Bahrain´s insurance sector is in something of a hiatus. 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 (small) fall in life premiums in 2011 and, for most companies, a fall in the numbers of policies. It

 

 

is difficult to avoid the conclusion that the unrest which began in early 2011 has resulted in a reduction in the numbers of expatriate workers. Data about the development of life insurance through 2012 is fairly scant. Nevertheless, this challenge is, almost certainly, temporary in nature. 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.

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