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Recently released market study: Bahrain Insurance Report Q1 2014
Fast Market Research recommends “Bahrain Insurance Report Q1 2014” from Business Monitor International, now available
[ClickPress, Fri Feb 07 2014] As of late 2013, it appears that Bahrain’s insurance sector is in something of a hiatus. Looking forward, we expect that competitive pressures facing the non-life companies will constrain the growth of that segment. We are, however, cautiously optimistic about the prospects for the life segment.
Key Insights And Key Risks
As of late 2013, it appears that Bahrain’s insurance sector is in something of a hiatus. 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 a (small) fall in life premiums in 2011 and, for most companies, a fall in the numbers of policies. It is difficult to avoid the conclusion that the unrest which began in early 2011 has resulted in a reduction in the numbers of expatriate workers. Data about the development of life insurance through 2012 is fairly scant. Nevertheless, this challenge is, almost certainly, temporary in nature. 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.
Full Report Details at
– http://www.fastmr.com/prod/768344_bahrain_insurance_report_q1_2014.aspx?afid=301
Indications from the non-life segment are mixed. According to the Central Bank of Bahrain (CBB), which regulates the insurance sector, overall premiums rose. Comments from particular companies, and the well documented problems of key areas of the economy such as the construction sector, suggest that times have been hard for many players in the non-life segment. As is the case across much of the Middle East and North Africa (MENA) region, the industry is fragmented, lacking in pricing power and (with some exceptions) unable to achieve regional economies of scale. The unrest that began in early 2011 led to an increase in claims. Some companies appear to have suffered from further sharp rises in claims through 2012 as well. For many companies, investment profits have been unimpressive.
About Fast Market Research
Fast Market Research is a leading 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 is always available to 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.
You may also be interested in these related reports:
– India Insurance Report Q1 2014
– Singapore Insurance Report Q1 2014
– Hong Kong Insurance Report Q2 2014
– Taiwan Insurance Report Q1 2014
– Russia Insurance Report Q1 2014
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