The insurance industry in Bahrain: 2016 turnover

The insurance industry in Bahrain: turnover per company (2015-2016)

in thousands USD
 2015 turnover2016 turnover2016 shares2015-2016 Evolution (1)
 In BHDIn USDIn BHDIn USD
Conventional companies
Bahrain Kuwait Insurance
23 76863 55626 17969 9649.6%10.1%
Bahrain National Insurance
21 50057 49121 82458 3258.0%1.5%
Life Ins. Corporation
21 76758 20520 04253 5627.4%-7.9%
AXA Insurance (Gulf)
19 17451 27119 44851 9757.1%1.4%
Saudi National Insurance
18 67649 94017 68247 2556.5%-5.3%
Gulf Union Ins.& Re
15 52941 52514 09937 6805.2%-9.2%
Al Ahlia Insurance
10 92629 21613 52936 1564.88%23.8%
Saudi Arabian Insurance
4 20211 23610 73128 6794%155.4%
United Insurance
7 68620 5528 23422 0053.0%7.1%
Bahrain National Life Assurance
5 44614 5635 47314 6272.0%0.5%
Royal & Sun Alliance Ins. (ME)
1 7924 7921 9365 1740.7%8.0%
Al Hilal Life
4761 2736101 6300.2%28.2%
Mediterranean & Gulf Ins&Reins.
3901 043541440.02%-86.2%
Total
151 332 404 663 159 841 427 176 58.6% 5.6%
Takaful companies
Takaful International
18 64349 85119 64352 4967.2%5.4%
Solidarity General Takaful
14 84039 68215 87642 4295.8%7.0%
T'azur Company
13 80536 91514 18037 8965.2%2.7%
Medgulf Takaful
8 03921 4966 74718 0312.5%-16.1%
Al Hilal Takaful
4 05910 8543 7099 9121.4%-8.6%
Chartis Takaful - Enaya
3 83810 2632757350.1%-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 86347 76616 80244 9046.2%-5.9%
ACE American Insurance Co.
17 98348 08714 03937 5195.2%-21.9%
Zurich International Life Ltd
10 49228 05610 17427 1903.7%-3.0%
The New India Assurance Co.
7 15419 1307 32119 5652.8%2.3%
Arabia Insurance Company
2 8377 5863 0008 0181,1%5.7%
Orient Insurance
--2296120.1%-
Zurich Insurance Company(3)
1 2573 3612045450.1%-83.8%
Iran Insurance Company(4)
6641 775250.0%-99.7%
Total foreign companies
58 250 155 761 51 771 138 358 19.2% -11.1%
Grand total
272 806729 485272 042727 034100%-0.3%
(1) growth rate in local currency
(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 USD
 2015 turnover2016 turnover2016 shares
 In BHDIn USDIn BHDIn USD
Bahrain Kuwait Insurance
23 76863 55626 17969 9649.6%
Bahrain National Insurance
21 50057 49121 82458 3258.0%
Life Ins. Corporation
21 76758 20520 04253 5627.4%
Takaful International
18 64349 85119 64352 4967.2%
AXA Insurance (Gulf)
19 17451 27119 44851 9757.1%
Saudi National Insurance
18 67649 94017 68247 2556.5%
American Life Insurance Co.
17 86347 76616 80244 9046.2%
Solidarity General Takaful
14 84039 68215 87642 4295.9%
T'azur Company
13 80536 91514 18037 8965.2%
Gulf Union Ins.& Re
15 52941 52514 09937 6805.2%
Total of the top ten companies
185 565 496 202 185 775 496 486 68.3%
Rest of the market
87 241233 28386 267230 54831.7%
Grand total
272 806729 485272 042727 034100%

Market shares of the top ten companies in 2016

market shares companies bahrain (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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