Bahrain Insurance Report Q4 2014 – New Study Released

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Bahrain Insurance Report Q4 2014 – New Study Released

New Financial Services market report from Business Monitor International: “Bahrain Insurance Report Q4 2014”

[USPRwire, Wed Aug 27 2014] As of late 2014, we anticipate Bahrain’s insurance sector to return to steady, single-digit growth. However, positive forecasts will depend on future political and economic stability. Considerable challenges continue to hinder significant growth in both the life and non-life segments. In the life segment, the main problem appears to be curtailed corporate budgets – which have reduced spending on group life products. In the non-life segment, the main challenges have been competition in the motor vehicle-related sub-sectors and delays to public sector contracts that would normally be covered by national insurers. We may well revise our forecasts downwards in coming months.

We anticipate the market structure to remain fragmented, particularly for non-life companies, with a wave acquisitions and mergers unlikely. Looking forward, we identify Sharia-compliant products as a potential source of growth. However, much will depend on the regulator’s ability to enforce substantial regulatory changes, as well as see off challenges from other regional insurance hubs looking to dominate the takaful sub-sector.

Full Report Details at
– http://www.fastmr.com/prod/861796_bahrain_insurance_report_q4_2014.aspx?afid=302

In theory, both the non-life and the life segments of Bahrain’s insurance sector should be able to sustain respectable, mid-single digit growth in premiums through the forecast period. As is the case in the rest of the region, the life segment is dominated by the local subsidiaries of multi-national insurers that are selling products and solutions to expatriates. Official data points to some stabilisation in life premiums in 2013. If the economy grows and develops as BMI envisages, it is virtually certain that the number (and wealth) of expatriate workers will increase: their demand for innovative savings solutions will grow also. In practice, though, demand for group life products has been curtailed by corporate customers cutting back on budgeted expenditure. The Indian expatriate community also represents a new opportunity for growth as…

The Bahrain Insurance Report has been researched at source and features Business Monitor International (BMI)’s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI’s 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 BMI’s independent insurance industry forecasts for Bahrain to test other views – a key input for successful budgeting and strategic business planning in Bahrain’s insurance market.

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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.

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