Life Insurance in Bahrain, Key Trends and Opportunities to 2021

Life Insurance in Bahrain, Key Trends and Opportunities to 2021

Summary

'Life Insurance in Bahrain, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Bahraini life insurance segment, and a comparison of the Bahraini insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bahraini economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

This report provides in-depth market analysis, information and insights into the Bahraini life insurance segment, including -

An overview of the Bahraini life insurance segment

The Bahraini life insurance segment’s growth prospects by category

A comprehensive overview of the Bahraini economy and demographics

A comparison of the Bahraini life insurance segment with its regional counterparts

The various distribution channels in the Bahraini life insurance segment

Details of the competitive landscape in the life insurance segment in Bahrain

Details of regulatory policy applicable to the Bahraini insurance industry

Key Highlights

By the end of 2018, the India-based SBI Life is expected to open a branch in Bahrain to cater to non-resident Indians. It will offer unit-linked, traditional and term insurance products.

In December 2016, Solidarity Group Holding BSC acquired a majority stake in Al Ahlia Insurance Company BSC for BHD10.6 million (USD27.8 million) in cash.

Life insurance accounted for 14.2% of the Bahraini insurance industry’s gross written premium in 2016.

Scope

This report provides a comprehensive analysis of the life insurance segment in Bahrain.

It provides historical values for the Bahraini life insurance segment for the report’s 2012-2016 review period, and projected figures for the 2016-2021 forecast period.

It offers a detailed analysis of the key categories in the Bahraini life insurance segment, and market forecasts to 2021.

It provides a comparison of the Bahraini life insurance segment with its regional counterparts.

It analyzes the various distribution channels for life insurance products in Bahrain.

It profiles the top life insurance companies in Bahrain and outlines the key regulations affecting them.

Reasons to buy

Make strategic business decisions using in-depth historic and forecast market data related to the Bahraini life insurance segment, and each category within it.

Understand the demand-side dynamics, key market trends and growth opportunities in the Bahraini life insurance segment.

Assess the competitive dynamics in the life insurance segment.

Identify growth opportunities and market dynamics in key product categories.

Gain insights into key regulations governing the Bahraini insurance industry, and their impact on companies and the industry's future.

1.Key Facts and Highlights
2 Executive Summary3 Economy and Demographics

4 Segment Outlook

4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Active policies
4.2.3 Claims
4.2.4 Assets and investments

5 Distribution Channel Outlook

6 Competitive Landscape

6.1 Company Profiles
6.1.1 Life Insurance Corporation (International) Company - company overview
6.1.2 Bahrain National Life Assurance Company - company overview
6.1.3 Al Hilal Life Insurance Company - company overview

7 Governance, Risk and Compliance

7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulation
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Motor third party liability insurance
7.4.2 Professional indemnity insurance for insurance brokers and insurance consultants
7.4.3 Social insurance law
7.4.4 Liability for ships with respect to oil pollution
7.4.5 Health insurance scheme for national employees and expatriates
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors
7.5.2 Central Bank of Bahrain
7.5.3 Bahrain Insurance Association
7.6 Non-Admitted Insurance Regulation
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and Penalties
7.7 Company Registration and Operations
7.7.1 Type of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margin
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)

8 Databook

8.1 Policies and Premium
8.2 Claims and Expenses
8.3 Assets and Investments

9 Definitions and Methodology

9.1 Definitions
9.2 Methodology

10 About the Publisher

10.1 Contact the Publisher
10.2 About the Publisher
10.3 Services
10.4 Disclaimer

List of Tables

Table 1: Bahraini Life Insurance - Key Facts, 2016
Table 2: Bahraini Life Insurance - Segment Shares of the Top Insurers, 2016
Table 3: Bahraini Government Credit Ratings
Table 4: Bahraini Life Insurance - Gross Written Premium (BHD Million and US$ Million), 2012-2016
Table 5: Bahraini Life Insurance - Penetration (%), 2012-2016
Table 6: Bahraini Life Insurance - Gross Written Premium (BHD Million and US$ Million), 2016-2021
Table 7: Bahraini Life Insurance - Penetration (%), 2016-2021
Table 8: Bahraini Life Insurance - Premium per Capita (BHD and US$), 2012-2016
Table 9: Bahraini Life Insurance - Premium per Capita (BHD and US$), 2016-2021
Table 10: Bahraini Life Insurance - Number of Active Policies (Thousand), 2012-2016
Table 11: Bahraini Life Insurance - Number of Active Policies (Thousand), 2016-2021
Table 12: Bahraini Life Insurance - Paid Claims (BHD Million and US$ Million), 2012-2016
Table 13: Bahraini Life Insurance - Paid Claims (BHD Million and US$ Million), 2016-2021
Table 14: Bahraini Life Insurance - Total Assets (BHD Million and US$ Million), 2012-2016
Table 15: Bahraini Life Insurance - Total Assets (BHD Million and US$ Million), 2016-2021
Table 16: Bahraini Life Insurance - Investment Portfolio (BHD Million), 2012-2016
Table 17: Bahraini Life Insurance - Investment Portfolio (BHD Million), 2016-2021
Table 18: Bahraini Life Insurance - Segment Shares of the Top Insurers, 2016
Table 19: Life Insurance Corporation (International) Insurance Company - Key Facts
Table 20: Life Insurance Corporation (International) Insurance Company - Key Financials (BHD Million), 2012-2016
Table 21: Bahrain National Life Assurance Insurance Company - Key Facts
Table 22: Bahrain National Life Assurance Insurance Company - Key Financials (BHD Million), 2012-2016
Table 23: Al Hilal Life Insurance Company - Key Facts
Table 24: Al Hilal Life Insurance Company - Key Financials (BHD Million), 2012-2016
Table 25: Bahrain - Insurance Regulatory Framework Key Features
Table 26: Bahrain - Life Insurance Regulatory Framework
Table 27: Bahrain - Property Insurance Regulatory Framework
Table 28: Bahrain - Motor Insurance Regulatory Framework
Table 29: Bahrain - Liability Insurance Regulatory Framework
Table 30: Bahraini Life Insurance - Policies and Premium, 2012-2016
Table 31: Bahraini Life Insurance - Policies and Premium, 2016-2021
Table 32: Bahraini Life Insurance - Claims and Expenses, 2012-2016
Table 33: Bahraini Life Insurance - Claims and Expenses, 2016-2021
Table 34: Bahraini Life Insurance - Assets and Investments, 2012-2016
Table 35: Bahraini Life Insurance - Assets and Investments, 2016-2021
Table 36: Insurance Industry Definitions

List of Figures

Figure 1: Bahraini Real GDP (BHD Billion), 2012-2021
Figure 2: Bahraini Inflation, Consumer Prices (%), 2012-2021
Figure 3: Bahraini Current Account Balance as Percentage of GDP (%), 2012-2021
Figure 4: Bahraini Unemployment Rate, 2012-2021
Figure 5: Bahraini Population by Age Group, 1990-2025
Figure 6: Bahraini Life Insurance Penetration - Regional Comparison (%), 2016
Figure 7: Bahraini Life Insurance - Gross Written Premium (BHD Million), 2012-2021
Figure 8: Bahraini Life Insurance - Penetration (%), 2012-2021
Figure 9: Bahraini Life Insurance - Premium per Capita (BHD), 2012-2021
Figure 10: Bahraini Life Insurance - Number of Active Policies (Thousand), 2012-2021
Figure 11: Bahraini Life Insurance - Paid Claims (BHD Million), 2012-2021
Figure 12: Bahraini Life Insurance - Total Assets (BHD Million), 2012-2021
Figure 13: Bahraini Life Insurance - Investment Portfolio (BHD Million), 2012-2021
Figure 14: Bahraini Life Insurance - Investment Portfolio Dynamics by Category, 2012-2021
Figure 15: Bahraini Life Insurance - Segment Shares of the Leading Insurers (%), 2016
Figure 16: Bahrain - Insurance Supervision and Control at Various Levels
Figure 17: Bahrain - Insurance Regulatory Frameworks for Company Registration and Operation