Personal Accident and Health Insurance in Bahrain, Key Trends and Opportunities to 2020

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Published: July 21, 2017 Report Code: GD-IS1527MR-ST

Report Overview
Key Players
Table of Contents
Table
Figures

GlobalData’s 'Personal Accident and Health Insurance in Bahrain, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Bahraini life insurance segment, and a comparison of the Bahraini insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bahraini economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Bahrain:

• It provides historical values for the Bahraini personal accident and health insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

• It offers a detailed analysis of the key categories in the Bahraini personal accident and health insurance segment, and market forecasts to 2020.

• It provides a comparison of the Bahraini personal accident and health insurance segment with its regional counterparts

• It provides an overview of the various distribution channels for personal accident and health insurance products in Bahrain.

• It profiles the top personal accident and health insurance companies in Bahrain, and outlines the key regulations affecting them.

Key Highlights

• In April 2017, the president of the Supreme Council for Health announced a new law under the National Health Insurance Scheme, which will be implemented by early 2019. This new law will make health insurance mandatory for citizens, expats and visitors in Bahrain.

• In August 2016, Bahrain Kuwait Insurance Company opened a new branch in Saar Mall in the Northern Governorate.

• In January 2015, Bahrain’s Ministry of Health introduced a new scheme which provides healthcare to expatriate workers in the private sector.

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Bahraini personal accident and health insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Bahraini personal accident and health insurance segment.

• Assess the competitive dynamics in the personal accident and health insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Bahraini insurance industry, and their impact on companies and the industry's future.

American Life Insurance Co.
Axa Insurance (Gulf) Co.
Saudi National Insurance Co.
Bahrain National Life Assurance Co.
Bahrain Kuwait Insurance Co.
Saudi Arabian Insurance Co.
Gulf Union Ins.& Re. Co.
Al Ahlia Insurance Co.
Arabia Insurance Company
Mediterranean & Gulf Ins. & Reins. Co.

1 KEY FACTS AND HIGHLIGHTS

2 EXECUTIVE SUMMARY

3 ECONOMY AND DEMOGRAPHICS

4 SEGMENT OUTLOOK

4.1 Regional Comparison

4.2 Segment Indicators

4.2.1 Gross written premium and penetration

4.2.2 Policies sold

4.2.3 Claims

4.2.4 Profitability

4.2.5 Assets and investments

5 DISTRIBUTION CHANNEL OUTLOOK

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 American Life Insurance Company – company overview

6.1.2 Axa Insurance (Gulf) Company – company overview

6.1.3 Saudi National Insurance Company – company overview

6.1.4 Bahrain National life Assurance Company – company overview

6.1.5 Bahrain Kuwait Insurance Company – company overview

7 GOVERNANCE, RISK AND COMPLIANCE

7.1 Legislation Overview and Historical Evolution

7.2 Latest Changes in Regulation

7.3 Legislation and Market Practice by Type of Insurance

7.3.1 Life insurance

7.3.2 Property insurance

7.3.3 Motor insurance

7.3.4 Liability insurance

7.3.5 Marine, aviation and transit insurance

7.3.6 Personal accident and health insurance

7.4 Compulsory Insurance

7.4.1 Motor third party liability insurance

7.4.2 Professional indemnity insurance for insurance brokers and insurance consultants

7.4.3 Social insurance law

7.4.4 Liability for ships with respect to oil pollution

7.4.5 Health insurance scheme for national employees and expatriates

7.5 Supervision and Control

7.5.1 International Association of Insurance Supervisors

7.5.2 Central Bank of Bahrain

7.5.3 Bahrain Insurance Association

7.6 Non-Admitted Insurance Regulation

7.6.1 Overview

7.6.2 Intermediaries

7.6.3 Market practices

7.6.4 Fines and Penalties

7.7 Company Registration and Operations

7.7.1 Type of insurance organization

7.7.2 Establishing a local company

7.7.3 Foreign ownership

7.7.4 Types of license

7.7.5 Capital requirements

7.7.6 Solvency margin

7.7.7 Reserve requirements

7.7.8 Investment regulations

7.7.9 Statutory return requirements

7.7.10 Fee structure

7.8 Taxation

7.8.1 Insurance premium or policy taxation

7.8.2 Withholding taxes on premium paid overseas

7.8.3 Corporate tax

7.8.4 VAT

7.8.5 Captives

7.9 Legal System

7.9.1 Introduction

7.9.2 Access to court

7.9.3 Alternative dispute resolution (ADR)

8 DATABOOK

8.1 Policies and Premium

8.2 Claims and Expenses

8.3 Assets and Investments

9 DEFINITIONS AND METHODOLOGY

9.1 Definitions

9.2 Methodology

10 ABOUT TIMETRIC

10.1 Contact GlobalData

10.2 About GlobalData

10.3 GlobalData’s Services

10.4 Disclaimer

Table

Table 1: Bahraini Personal Accident and Health Insurance – Key Facts, 2015

Table 2: Bahraini Personal Accident and Health Insurance – Segment Shares of the Top Insurers, 2015

Table 3: Bahraini Government Credit Ratings

Table 4: Bahraini Personal Accident and Health Insurance – Gross Written Premium (BHD Million and US$ Million), 2011–2015

Table 5: Bahraini Personal Accident and Health Insurance – Penetration (%), 2011–2015

Table 6: Bahraini Personal Accident and Health Insurance – Gross Written Premium (BHD Million and US$ Million), 2015–2020

Table 7: Bahraini Personal Accident and Health Insurance – Penetration (%), 2015–2020

Table 8: Bahraini Personal Accident and Health Insurance – Premium per Capita (BHD and US$), 2011–2015

Table 9: Bahraini Personal Accident and Health Insurance – Premium per Capita (BHD and US$), 2015–2020

Table 10: Bahraini Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2011–2015

Table 11: Bahraini Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2015–2020

Table 12: Bahraini Personal Accident and Health Insurance – Paid Claims (BHD Million and US$ Million), 2011–2015

Table 13: Bahraini Personal Accident and Health Insurance – Paid Claims (BHD Million and US$ Million), 2015–2020

Table 14: Bahraini Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2015

Table 15: Bahraini Personal Accident and Health Insurance – Profitability Ratio (%), 2015–2020

Table 16: Bahraini Personal Accident and Health Insurance – Total Assets (BHD Million and US$ Million), 2011–2015

Table 17: Bahraini Personal Accident and Health Insurance – Total Assets (BHD Million and US$ Million), 2015–2020

Table 18: Bahraini Personal Accident and Health Insurance – Total Investment Income (BHD Thousand and US$ Thousand), 2011–2015

Table 19: Bahraini Personal Accident and Health Insurance – Total Investment Income (BHD Thousand and US$ Thousand), 2015–2020

Table 20: Bahraini Personal Accident and Health Insurance – Investment Portfolio (BHD Million), 2011–2015

Table 21: Bahraini Personal Accident and Health Insurance – Investment Portfolio (BHD Million), 2015–2020

Table 22: Bahraini Personal Accident and Health Insurance – Market Shares of Leading Insurers (%), 2015

Table 23: American Life Insurance Company – Key Facts

Table 24: Axa Insurance (Gulf) Company – Key Facts

Table 25: Saudi National Insurance Company – Key Facts

Table 26: Bahrain National life Assurance Company – Key Facts

Table 27: Bahrain Kuwait Insurance Company – Key Facts

Table 28: Bahrain – Insurance Regulatory Framework Key Features

Table 29: Bahrain – Life Insurance Regulatory Framework

Table 30: Bahrain – Property Insurance Regulatory Framework

Table 31: Bahrain – Motor Insurance Regulatory Framework

Table 32: Bahrain – Liability Insurance Regulatory Framework

Table 33: Bahraini Personal Accident and Health Insurance Industry – Policies and Premium, 2011–2015

Table 34: Bahraini Personal Accident and Health Insurance Industry – Policies and Premium, 2015–2020

Table 35: Bahraini Personal Accident and Health Insurance – Claims and Expenses, 2011–2015

Table 36: Bahraini Personal Accident and Health Insurance – Claims and Expenses, 2015–2020

Table 37: Bahraini Personal Accident and Health Insurance – Assets and Investments, 2011–2015

Table 38: Bahraini Personal Accident and Health Insurance – Assets and Investments, 2015–2020

Table 39: Insurance Industry Definitions

Figures

Figure 1: Bahraini Real GDP (US$ Billion), 2011–2020

Figure 2: Bahraini Consumer Price Inflation (%), 2011–2020

Figure 3: BHD-US$ Exchange Rate, 2011–2020

Figure 4: Bahraini Current Account Balance as Percentage of GDP (%), 2011–2020

Figure 5: Bahraini Unemployment Rate, 2011–2020

Figure 6: Bahraini Population by Age Group, 1991–2025

Figure 7: Bahraini Personal Accident and Health Insurance Penetration – Regional Comparison (%), 2015

Figure 8: Bahraini Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2015

Figure 9: Bahraini Personal Accident and Health Insurance – Gross Written Premium (BHD Million), 2011–2020

Figure 10: Bahraini Personal Accident and Health Insurance – Penetration (%), 2011–2020

Figure 11: Bahraini Personal Accident and Health Insurance – Premium per Capita (BHD), 2011–2020

Figure 12: Bahraini Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2011–2020

Figure 13: Bahraini Personal Accident and Health Insurance – Paid Claims (BHD Million), 2011–2020

Figure 14: Bahraini Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2020

Figure 15: Bahraini Personal Accident and Health Insurance – Total Assets (BHD Million), 2011–2020

Figure 16: Bahraini Personal Accident and Health Insurance – Total Investment Income (BHD Thousand), 2011–2020

Figure 17: Bahraini Personal Accident and Health Insurance – Investment Portfolio (BHD Million), 2011–2020

Figure 18: Bahraini Personal Accident and Health Insurance – Investment Portfolio Dynamics by Category, 2011–2020

Figure 19: Bahraini Personal Accident and Health Insurance – Market Shares of Leading Insurers (%), 2015

Figure 20: Bahrain – Insurance Supervision and Control at Various Levels

Figure 21: Bahrain – Insurance Regulatory Frameworks for Company Registration and Operation

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