New Market Research Report: Bahrain Insurance Report Q2 2016

Bahrain's insurance sector, though small in global terms, is one of the more developed in the Middle East and incorporates a wide range of indigenous and multinational providers, the majority of whom offer a diversified product mix. Despite the impact of low oil prices on the Bahraini economy, we maintain a relatively positive outlook as regards consumer spending in the kingdom and thus demand for insurance and financial services. Income levels in Bahrain are high and rising and a sizeable expatriate population means that demand for life and health covers in particular is expected to remain robust over the forecast period. However, we hold a weaker view with regard to transport lines and insurance sub-sectors that are heavily dependant on the country's oil economy, with these segments likely to see limited growth over the forecast period through to 2020.

Full Report Details at
- http://www.fastmr.com/prod/1152791_bahrain_insurance_report_q2.aspx?afid=301

Key Updates And Forecasts

We maintain a generally positive outlook for both the life and non-life sectors in Bahrain. We forecast life insurance premiums to grow by 7.5% y-o-y in 2016 to USD174mn. Growth will average 5.6% a year over 2017-2020 to reach USD217mn.

Non-life premiums will also perform well in the short term, growing by 6.8% y-o-y this year to USD645mn. Premiums will grow by 6.9% a year on average over the remainder of the forecast period to reach USD842mn.

In January and February 2016, wealth management and pensions provider, Takaud, signed partnership agreements with two Bahraini insurance companies, Takaful International and Bahrain Kuwait Insurance Company (BKIC). The agreements will involve the cross-marketing of insurance and financial services products between the respective companies, as well as the development of new products.

The Bahrain Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Bahrain Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Bahraini insurance industry.

Key Benefits
Benchmark BMI's independent insurance industry forecasts for Bahrain to test other views - a key input for successful budgeting and strategic business planning in Bahrain's insurance market.
Target business opportunities and risks in Bahrain through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.

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