Insurance
From The Report: Bahrain 2018
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A low oil price environment has presented a number of challenges for Bahrain’s vibrant and fiercely competitive insurance sector. Downward pressure on premiums and a dearth of underwriting opportunities across the region have negatively affected the bottom lines of most Manama-based insurers. However, new opportunities in areas such as health care insurance and the extension of compulsory cover to more areas of the economy are offering routes to growth during this difficult period.

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Overview

Full coverage: Regulatory intervention to facilitate industry recovery
OBG
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A low oil price environment has presented a number of challenges for Bahrain’s vibrant and fiercely competitive insurance sector. Downward pressure on premiums and a dearth of underwriting opportunities across the region have negatively affected the bottom lines of most Manama-based insurers. However, new opportunities in areas such as health care insurance and the extension of compulsory cover to more areas of the economy are offering routes to growth during this difficult period. RAPID…

Analysis

Improved standards: Islamic insurance growth supported by regulatory framework
OBG
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Bahrain’s sharia-compliant insurance industry has developed rapidly in the years following the turn of the century. According to a report by multinational professional services firm EY, in 2001 takaful (Islamic insurance) accounted for 3% of the sector’s gross written premium (GWP), but by 2016 it had expanded to capture nearly a quarter of the market, or 22% of GWP, according to statistics from the Central Bank of Bahrain (CBB). Over recent years, the growth of takaful has significantly…