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Laura Wood
Guinness Enterprise Centre

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Dublin, Dublin, Ireland

Bahrain Insurance Report Q4 2011: takaful operators, foreign life companies and reinsurance companies continue to grow

Dec 06, 2011 / (http://www.myprgenie.com) --

Dublin - Research and Markets
(http://www.researchandmarkets.com/research/39324c/bahrain_insurance) has announced the addition of the "Bahrain Insurance Report Q4 2011" report to their offering.

Business Monitor International's Bahrain Insurance Report provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Bahrain's insurance industry.

Report Highlights:

- For all the success of the Central Bank of Bahrain (CBB) in promoting the development of financial services, the insurance sector is small by most standards.

- The political unrest in Bahrain and the region has been bad news for most non-life insurers, which already faced a variety of problems. Local life insurers have also suffered a contraction in premiums in H111.

- Takaful operators, foreign life companies and reinsurance companies continue to grow. Political stability is an absolutely necessary condition for the development of a thriving offshore/regional financial services business. Regardless of the ultimate impact on Bahrain's economy from the political unrest so far in 2011 (BMI discusses three possible scenarios in this report), recent events have been disastrous for offshore banking and tourism.

As of late September 2011, the relatively few statistics available suggest that non-life premiums contracted in H111, having (probably) shrunk in calendar 2010. Conditions for non-life insurers were far from optimal even before the political unrest in Bahrain earlier this year. There was intense price competition in a small and fragmented market that was not growing particularly quickly.

Some players were chasing market share (especially in the corporate markets and for motor-related lines) regardless of profitability. Moreover, the sector had had also to deal with the downturn in the construction and real estate sectors in 2010. The gross written premiums of Bahrain National Insurance were about 10% lower in H111 than they had been in H110. Al-Ahleia also suffered a contraction in its business.

Companies Profiled:

- Bahrain National Holding Company
- Regional Company Profiles
- Allianz
- Arab Insurance Group (ARIG)
- Aviva
- Chartis
- Generali
- HSBC Insurance
- MetLife ALICO
- Zurich Financial Services

For more information visit http://www.researchandmarkets.com/research/39324c/bahrain_insurance

Contact: Laura Wood, Senior Manager, , U.S. Fax: 646-607-1907 ,

Category: Banking & Financial Services
Word Count:0
Weblinks: http://www.researchandmarkets.com/research/39324c/bahrain_insurance

Research and Markets

We are the world's leading source for market research and market data, and we hold over 700,000 major research publications from leading publishers, consultants and analysts worldwide. We can provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. We are a one-stop shop for market research reports and industry newsletters from specialist research firms and niche market analysts, and we have clients in over 100 cities worldwide.


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