Boston, MA -- (SBWIRE) -- 11/29/2012 -- The Bahrain Insurance Report considers the prospects for life and non-life insurers in the country. The latest results and comments indicate that 2011 was a highly challenging, but not universally disastrous, year for Bahrain's insurance sector. We calculate that premiums in the non-life segment contracted. This was partly the result of the Arab Spring in the first half of last year. It was also the consequence of a lacklustre economic environment (and the slump in the real estate and construction sectors). Further, price competition in what is, by any standard, a small and fragmented segment has been fairly intense. If this were not enough, some companies experienced increased claims because of damage relating to the unrest or other problems. Reports published by Bahrain National Holdings and other local operators suggest the problems persisted through to H112.

View Full Report Details and Table of Contents

Nevertheless, there are grounds for optimism. The government of Bahrain and its institutions have long been proponents of Islamic finance and takaful. The reports from the leading takaful (and retakaful) players suggest this part of the market has been growing reasonably quickly. The Central Bank of Bahrain (CBB) has also shown itself to be a first-class regulator and agency for the general promotion and development of financial services.

If takaful is one part of the market that is still growing, life insurance is another. Media reports and other (admittedly quite scant) data suggest to us that premiums have been rising. However, this growth has been concentrated in particular companies: several of the local life companies have suffered a contraction in their business. The companies that are expanding their life businesses in Bahrain are doing so as a result of bancassurance deals and product innovation. Both major segments can benefit from growing demand for insurance among the country's population of Indian expatriates.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Financial Services research reports at Fast Market Research

You may also be interested in these related reports:

- United States Insurance Report Q4 2012
- Brazil Insurance Report Q4 2012
- Argentina Insurance Report Q4 2012
- Greece Insurance Report Q4 2012
- Mexico Insurance Report Q4 2012
- Hong Kong Insurance Report Q4 2012
- Canada Insurance Report Q4 2012
- Russia Insurance Report Q4 2012
- Slovakia Insurance Report Q4 2012
- India Insurance Report Q4 2012