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Bahrain insurance market: turnover per class of business
Figures in thousands| Class of business | 2023 turnover | 2022 turnover | 2022-2023 evolution (1) | 2023 shares | ||
|---|---|---|---|---|---|---|
| BHD | USD | BHD | USD | |||
| Health | 83 824 | 220 996 | 74 406 | 196 100 | 12.66% | 28.68% |
| Motor | 78 193 | 206 150 | 74 643 | 196 725 | 4.76% | 26.76% |
| Fire | 42 085 | 110 954 | 38 836 | 102 354 | 8.37% | 14.40% |
| Engineering | 11 777 | 31 049 | 8 514 | 22 439 | 38.33% | 4.03% |
| Third party liability | 8 447 | 22 270 | 8 022 | 21 142 | 5.30% | 2.89% |
| Miscellaneous financial losses | 7 496 | 19 763 | 6 630 | 17 474 | 13.06% | 2.56% |
| Property damage | 6 986 | 18 418 | 6 469 | 17 049 | 7.99% | 2.39% |
| Marine | 4 602 | 12 133 | 5 528 | 14 569 | -16.75% | 1.58% |
| Aviation | 3 956 | 10 430 | 3 477 | 9 164 | 13.78% | 1.35% |
| Other risks | 15 240 | 40 179 | 17 192 | 45 310 | -11.35% | 5.21% |
| Non-life total | 262 606 | 692 342 | 243 717 | 642 326 | 7.75% | 89.85% |
| Life total | 29 658 | 78 191 | 35 721 | 94 144 | -16.97% | 10.15% |
| Grand total | 292 264 | 770 533 | 279 438 | 736 470 | 4.59% | 100% |
(1) Evolution in local currency
Source: CBB, Bahrain
To discover : Atlas Reinsurance Reports - MENA 2024
Bahrain insurance market: Turnover by company type
Figures in thousands| Type of companies | 2023 turnover | 2022 turnover | 2022-2023 evolution (1) | 2023 shares | ||
|---|---|---|---|---|---|---|
| BHD | USD | BHD | USD | |||
| Traditional companies | 166 748 | 439 619 | 157 630 | 415 440 | 5.78% | 57.05% |
| Takaful companies | 84 805 | 223 582 | 80 354 | 211 776 | 5.54% | 29.02% |
| Local companies | 251 553 | 663 202 | 237 984 | 627 216 | 5.70% | 86.07% |
| Foreign companies | 40 711 | 107 332 | 41 454 | 109 254 | -1.79% | 13.93% |
| Grand total | 292 264 | 770 533 | 279 438 | 736 470 | 4.59% | 100% |
(1) Evolution in local currency
Source: CBB, Bahrain
Exchange rate as at 31/12/2023 : 1 BHD = 2.63643 USD ; as at 31/12/2022 : 1 BHD = 2.63554 USD
Read also | Bahraini insurance market in Q1 2024
