The insurance industry in Bahrain: 2016 turnover
The insurance industry in Bahrain: turnover per company (2015-2016)
in thousands USD2015 turnover | 2016 turnover | 2016 shares | 2015-2016 Evolution (1) | |||
---|---|---|---|---|---|---|
In BHD | In USD | In BHD | In USD | |||
Conventional companies | ||||||
Bahrain Kuwait Insurance | 23 768 | 63 556 | 26 179 | 69 964 | 9.6% | 10.1% |
Bahrain National Insurance | 21 500 | 57 491 | 21 824 | 58 325 | 8.0% | 1.5% |
Life Ins. Corporation | 21 767 | 58 205 | 20 042 | 53 562 | 7.4% | -7.9% |
AXA Insurance (Gulf) | 19 174 | 51 271 | 19 448 | 51 975 | 7.1% | 1.4% |
Saudi National Insurance | 18 676 | 49 940 | 17 682 | 47 255 | 6.5% | -5.3% |
Gulf Union Ins.& Re | 15 529 | 41 525 | 14 099 | 37 680 | 5.2% | -9.2% |
Al Ahlia Insurance | 10 926 | 29 216 | 13 529 | 36 156 | 4.88% | 23.8% |
Saudi Arabian Insurance | 4 202 | 11 236 | 10 731 | 28 679 | 4% | 155.4% |
United Insurance | 7 686 | 20 552 | 8 234 | 22 005 | 3.0% | 7.1% |
Bahrain National Life Assurance | 5 446 | 14 563 | 5 473 | 14 627 | 2.0% | 0.5% |
Royal & Sun Alliance Ins. (ME) | 1 792 | 4 792 | 1 936 | 5 174 | 0.7% | 8.0% |
Al Hilal Life | 476 | 1 273 | 610 | 1 630 | 0.2% | 28.2% |
Mediterranean & Gulf Ins&Reins. | 390 | 1 043 | 54 | 144 | 0.02% | -86.2% |
Total | 151 332 | 404 663 | 159 841 | 427 176 | 58.6% | 5.6% |
Takaful companies | ||||||
Takaful International | 18 643 | 49 851 | 19 643 | 52 496 | 7.2% | 5.4% |
Solidarity General Takaful | 14 840 | 39 682 | 15 876 | 42 429 | 5.8% | 7.0% |
T'azur Company | 13 805 | 36 915 | 14 180 | 37 896 | 5.2% | 2.7% |
Medgulf Takaful | 8 039 | 21 496 | 6 747 | 18 031 | 2.5% | -16.1% |
Al Hilal Takaful | 4 059 | 10 854 | 3 709 | 9 912 | 1.4% | -8.6% |
Chartis Takaful - Enaya | 3 838 | 10 263 | 275 | 735 | 0.1% | -92.8% |
Total | 63 224 | 169 061 | 60 430 | 161 500 | 22.2% | -4.4% |
Total national companies(2) | 214 556 | 573 724 | 220 271 | 588 676 | 80.8% | 2.7% |
Foregin companies | ||||||
American Life Insurance Co. | 17 863 | 47 766 | 16 802 | 44 904 | 6.2% | -5.9% |
ACE American Insurance Co. | 17 983 | 48 087 | 14 039 | 37 519 | 5.2% | -21.9% |
Zurich International Life Ltd | 10 492 | 28 056 | 10 174 | 27 190 | 3.7% | -3.0% |
The New India Assurance Co. | 7 154 | 19 130 | 7 321 | 19 565 | 2.8% | 2.3% |
Arabia Insurance Company | 2 837 | 7 586 | 3 000 | 8 018 | 1,1% | 5.7% |
Orient Insurance | - | - | 229 | 612 | 0.1% | - |
Zurich Insurance Company(3) | 1 257 | 3 361 | 204 | 545 | 0.1% | -83.8% |
Iran Insurance Company(4) | 664 | 1 775 | 2 | 5 | 0.0% | -99.7% |
Total foreign companies | 58 250 | 155 761 | 51 771 | 138 358 | 19.2% | -11.1% |
Grand total | 272 806 | 729 485 | 272 042 | 727 034 | 100% | -0.3% |
(2) conventional and takaful companies
(3) under run-off
(4) under administration
Read also | Bahrain insurance market in 2018
The insurance industry in Bahrain: turnover of the top ten companies (2015-2016)
in thousands USD2015 turnover | 2016 turnover | 2016 shares | |||
---|---|---|---|---|---|
In BHD | In USD | In BHD | In USD | ||
Bahrain Kuwait Insurance | 23 768 | 63 556 | 26 179 | 69 964 | 9.6% |
Bahrain National Insurance | 21 500 | 57 491 | 21 824 | 58 325 | 8.0% |
Life Ins. Corporation | 21 767 | 58 205 | 20 042 | 53 562 | 7.4% |
Takaful International | 18 643 | 49 851 | 19 643 | 52 496 | 7.2% |
AXA Insurance (Gulf) | 19 174 | 51 271 | 19 448 | 51 975 | 7.1% |
Saudi National Insurance | 18 676 | 49 940 | 17 682 | 47 255 | 6.5% |
American Life Insurance Co. | 17 863 | 47 766 | 16 802 | 44 904 | 6.2% |
Solidarity General Takaful | 14 840 | 39 682 | 15 876 | 42 429 | 5.9% |
T'azur Company | 13 805 | 36 915 | 14 180 | 37 896 | 5.2% |
Gulf Union Ins.& Re | 15 529 | 41 525 | 14 099 | 37 680 | 5.2% |
Total of the top ten companies | 185 565 | 496 202 | 185 775 | 496 486 | 68.3% |
Rest of the market | 87 241 | 233 283 | 86 267 | 230 548 | 31.7% |
Grand total | 272 806 | 729 485 | 272 042 | 727 034 | 100% |
Market shares of the top ten companies in 2016
(1) 17 companies Source: CBB (Central Bank of Bahrain)Exchange rate BHD/USD as at 31/12 | 2015 | 2016 |
2.67401 | 2.67251 |
Read also | Top 5 insurance companies in Bahrain - 2017
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