Bahraini insurance market in 2022

Bahrain insurance market: turnover per class of business

Figures in thousands
Class of business2022 turnover2021 turnover2021-2022 evolution (1)2022 shares
BHDUSDBHDUSD
Motor74 643196 72571 935189 6693.76%26.71%
Health74 406196 10069 708183 7976.74%26.63%
Fire38 836102 35436 73996 8695.71%13.90%
Engineering8 51422 4396 94018 29922.68%3.05%
Third party liability8 02221 1427 53919 8786.41%2.87%
Miscellaneous financial losses6 62917 4714 29011 31154.52%2.37%
Property damage6 46917 0497 86820 745-17.78%2.32%
Marine5 52814 5694 75212 52916.33%1.98%
Aviation3 4779 1642 5746 78735.08%1.24%
Other risks17 19245 31010 58327 90462.45%6.15%
Non-life total243 716642 323222 928587 7889.32%87.22%
Life total35 72194 14453 001139 746-32.60%12.78%
Grand total279 437736 467275 929727 5341.27%100%

(1) Growth rate in local currency
Source: CBB, Bahrain

Bahrain insurance market: Turnover by company type

Figures in thousands
Class of business2022 turnover2021 turnover2021-2022 evolution (1)2022 shares
BHDUSDBHDUSD
Traditional companies157 629415 437152 988403 3793.03%56.41%
Takaful companies80 354211 77682 159216 626-2.20%28.76%
Total local companies237 983627 213235 147620 0051.21%85.17%
Foreign companies41 454109 25440 782107 5291.65%14.83%
Grand total279 437736 467275 929727 5341.27%100%

(1) Growth rate in local currency
Source: CBB, Bahrain
Exchange rate as at 31/12/2022: 1 BHD = 2.63554 USD ; at 31/12/2021: 1 BHD = 2.63667 USD

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