Fri 24 Jul 2009
Insurance Report Bahrain
Posted by bharatbookgroup under Emerging Markets , Business Forecast , Life Insurance , Motor Insurance , Health Insurance , market size , Market Share , Demand Forecast , market forecast , Market growth , Market Leaders , BusinessNo Comments
Independent 5-year insurance industry forecast for Bahrain.
Original insurance market research and insurance sector trend analysis for Bahrain’s insurance industry.
Competitive intelligence, regional insurance company rankings and SWOT analyses on international and domestic insurance companies in Bahrain.
The Bahrain Insurance Report has been researched at source and features latest available data for annual insurance premiums and claims; assets and investments; 5-year insurance industry forecasts for Bahrain through end-2012; insurance company rankings and competitive landscapes for local insurers and multinational insurance subsidiaries in Bahrain; and analysis of the latest insurance industry developments, trends and regulatory changes in Bahrain.
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 It’s Independent 5-Year Insurance Industry Forecast on Bahrain
to test other views - a key input for successful budgeting and planning in this strategic insurance market.
Target Business Opportunities & Risks in Bahrain’s Insurance Sector
through our reviews of latest insurance industry trends, regulatory changes, and major deals, projects and investments in Bahrain.
Exploit The Latest Competitive Insurance Intelligence & Company SWOTS
on your competitors and peers in Bahrain through our insurance company rankings by assets, premiums, income, market share, investments and leading products and services.
Executive Summary
In Q307 we have incorporated actual data for 2006 in our insurance sector reports. In Q207 much of this data was not available, and we had to make estimates. In international comparison tables, we have also incorporated data from 30 new countries in addition to the 58 for which we had data in Q207. We are now therefore able to place each country into a truly global context.
Non-life premiums rose from BHD78mn (US$206mn) in 2005 to BHD92mn (US$241mn) in 2006. Non-life premiums therefore increased by 17% in both dinar and US dollar terms. We expect that nonlife premiums will grow by 24% annually, in both dinar and US dollar terms, in 2006-2011. Life premiums rose from BHD17mn (US$44mn) in 2005 to BHD24mn (US$64mn) in 2006. Life premiums therefore increased by 46% in both dinar and US dollar terms. We expect that life premiums will grow by 16% annually, in both dinar and US dollar terms, in 2006-2011.
In 2006 the two most important lines within the non-life segment were motor and accident and helth. These two lines, respectively, accounted for 44% and 22% of non-life premiums. We have not, as yet, been able to find a detailed breakdown of Bahrain’s life segment.
Bahrain is, among the 88 countries for which we have gathered data, in the fourth quartile in terms of absolute non-life premiums in 2006, and also in the bottom quartile in terms of absolute growth of nonlife premiums last year. We would therefore categorise Bahrain as a small-sized national market for non-life insurance. Premiums are growing fairly quickly but the country will still have a population of less than 1mn even in 2011. The market cannot ever be expected to be anything other than small.
Bahrain is in the fourth quartile in terms of absolute life premiums in 2006, and in the fourth quartile in terms of absolute growth of life premiums last year. We would therefore categorise Bahrain as a smallsized national market for life insurance and one where premiums are growing quickly, albeit from a nominal base.
In 2006, non-life penetration in Bahrain grew by 5.9%, while life density rose by 42.7% in US dollar terms.
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