Excellent performances of the insurance market in 2006

Record results in 2006 for the insurance sector which is reporting a 22% growth in comparison with 2005. The total premium volume amounts to 115.9 million BHD (308 million USD) in 2006 against 94.9 million BHD (251 million USD) in 2005. The motor business heads the ranking with 41.8 million BHD (111 million USD), that is, a 13.3% rise in comparison with 2005, it accounts for 36% of the market shares in 2006.
The life class of business comes second with 21% of the market shares and with a premium volume of 24.3 million BHD (64.6 million USD), that is, a 46.5% increase compared to 2005.

On the market, 27 operators have been listed 18 of which are local companies and 9 are subsidiaries of foreign firms. The sector's good health also manifested through recruitment level where a 23% rise has been reported as the number of staff members went up from 988 employees in 2005 to 1215 in 2006.