Bahrain insurance market: turnover as at 30 June 2023
The Central Bank of Bahrain (CBB) has published the insurance market results for the first half of 2023. All insurers operating in the country have ended the first two quarters of the current financial year with a 3.1% increase in their overall turnover.
The figure went up from 146.86 million BHD (386.96 million USD) at the end of June 2022, to 151.49 million BHD (399.4 million USD) a year later.
The written premium volume is broken down between the following companies and classes of business:
Figures in thousands| Classes of business | Domestic companies | Foreign companies | Total | Market share | |||||
|---|---|---|---|---|---|---|---|---|---|
| Traditionnelles | Takaful | ||||||||
| BHD | USD | BHD | USD | BHD | USD | BHD | USD | ||
| Health | 24 296 | 64 051 | 20 839 | 54 937 | 7 176 | 18 918 | 52 311 | 137 906 | 34.50% |
| Motor | 24 600 | 64 852 | 11 589 | 30 552 | 2 701 | 7 121 | 38 890 | 102 525 | 25.70% |
| Fire | 9 424 | 24 844 | 3 618 | 9 538 | 1 654 | 4 360 | 14 696 | 38 743 | 9.70% |
| Engineering | 4 449 | 11 729 | 1 633 | 4 305 | 309 | 815 | 6 391 | 16 848 | 4.20% |
| Miscellaneous financial losses | 2 348 | 6 190 | 2 161 | 5 697 | 829 | 2 185 | 5 338 | 14 072 | 3.50% |
| Third party liability | 3 019 | 7 959 | 851 | 2 244 | 171 | 451 | 4 041 | 10 653 | 2.70% |
| Property damage | 2 683 | 7 073 | - | - | - | - | 2 683 | 7 073 | 1.80% |
| Marine | 2 100 | 5 536 | 409 | 1 078 | 93 | 245 | 2 602 | 6 860 | 1.70% |
| Aviation | - | - | 9 | 23 | 144 | 380 | 153 | 403 | 0.10% |
| Others | 5 224 | 13 772 | 2 868 | 7 561 | 387 | 1 020 | 8 479 | 22 353 | 5.60% |
| Non-life total | 78 143 | 206 006 | 43 977 | 115 935 | 13 464 | 35 495 | 135 584 | 357 436 | 89.50% |
| Life | 4 958 | 13 071 | 2 689 | 7 089 | 8 255 | 21 762 | 15 902 | 41 922 | 10.50% |
| Total | 83 101 | 219 077 | 46 666 | 123 024 | 21 719 | 57 257 | 151 486 | 399 358 | 100% |
Read also | Insurance companies in Bahrain
