Bahraini insurance market in 2022
Bahrain insurance market: turnover per class of business
Figures in thousandsClass of business | 2022 turnover | 2021 turnover | 2021-2022 evolution (1) | 2022 shares | ||
---|---|---|---|---|---|---|
BHD | USD | BHD | USD | |||
Motor | 74 643 | 196 725 | 71 935 | 189 669 | 3.76% | 26.71% |
Health | 74 406 | 196 100 | 69 708 | 183 797 | 6.74% | 26.63% |
Fire | 38 836 | 102 354 | 36 739 | 96 869 | 5.71% | 13.90% |
Engineering | 8 514 | 22 439 | 6 940 | 18 299 | 22.68% | 3.05% |
Third party liability | 8 022 | 21 142 | 7 539 | 19 878 | 6.41% | 2.87% |
Miscellaneous financial losses | 6 629 | 17 471 | 4 290 | 11 311 | 54.52% | 2.37% |
Property damage | 6 469 | 17 049 | 7 868 | 20 745 | -17.78% | 2.32% |
Marine | 5 528 | 14 569 | 4 752 | 12 529 | 16.33% | 1.98% |
Aviation | 3 477 | 9 164 | 2 574 | 6 787 | 35.08% | 1.24% |
Other risks | 17 192 | 45 310 | 10 583 | 27 904 | 62.45% | 6.15% |
Non-life total | 243 716 | 642 323 | 222 928 | 587 788 | 9.32% | 87.22% |
Life total | 35 721 | 94 144 | 53 001 | 139 746 | -32.60% | 12.78% |
Grand total | 279 437 | 736 467 | 275 929 | 727 534 | 1.27% | 100% |
(1) Growth rate in local currency
Source: CBB, Bahrain
Bahrain insurance market: Turnover by company type
Figures in thousandsClass of business | 2022 turnover | 2021 turnover | 2021-2022 evolution (1) | 2022 shares | ||
---|---|---|---|---|---|---|
BHD | USD | BHD | USD | |||
Traditional companies | 157 629 | 415 437 | 152 988 | 403 379 | 3.03% | 56.41% |
Takaful companies | 80 354 | 211 776 | 82 159 | 216 626 | -2.20% | 28.76% |
Total local companies | 237 983 | 627 213 | 235 147 | 620 005 | 1.21% | 85.17% |
Foreign companies | 41 454 | 109 254 | 40 782 | 107 529 | 1.65% | 14.83% |
Grand total | 279 437 | 736 467 | 275 929 | 727 534 | 1.27% | 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
Read also | Insurance companies in Bahrain
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Thu, 23/11/2023 - 14:44
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