According to the data published by the Central Bank of Bahrain (CBB), local insurers have recorded a 2.3% increase in their overall turnover in the first half of 2022. The premium volume went from 143.62 million BHD (378.819 million USD) as at 30 June 2021 to 146.86 million BHD (386.96 million USD) a year later.
The Bahraini insurance market [4] is dominated by health class of business which totaled 45.68 million BHD (120.362 million USD) during the first half of 2022, representing 32% of the total premiums underwritten in the Kingdom during the period under review. The motor class of business comes in second position with a 25% market share.
During the first half of 2022, takaful contributions amounted to 41.3 million BHD (108.821 million USD), declining by 5.4% over a year.