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| Surface area: 686.8 Km2 |
| Population(1) (2024): 1 588 670 inhabitants |
| GDP (1) (2024): 47.11 billion USD |
| GDP per capita (2024): 29 653.7 USD |
| GDP growth rate (1) (2024): 2.6% |
| Inflation rate (1) (2024): 0.9% |
| Main activity sectors: financial services, oil industry, natural gas, aluminum, tourism, and ship repair. |
Bahraini insurance market: 2024 structure
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| Market players | Total |
| National insurance companies | 30 |
| Foreign insurance companies | 12 |
| Representative offices | 2 |
| Insurance brokers | 34 |
| Adjusters | 14 |
| Actuaries | 29 |
| Insurance advisors | 4 |
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| Market features |
| Regulatory authority: Central Bank of Bahrain (CBB) |
| Life and non-life premiums (2024): 835.212 million USD |
| Insurance density (2024): 525.7 USD |
| Penetration rate (2024): 1.77% |
Bahraini insurance market: premium evolution by life and non-life class of business 2020-2024
Figures in thousands USD
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| 2020 | 2021 | 2022 | 2023 | 2024 | |
| Non-life | 565 654 | 587 788 | 642 326 | 692 343 | 758 646 |
| Life | 164 715 | 139 746 | 94 144 | 78 191 | 76 566 |
| Total | 730 369 | 727 534 | 736 470 | 770 534 | 835 212 |
(1) Source: World Bank
(2) Source: World Population Review
Exchange rate as at 31/12/2024: 1 BHD = 2.62689 USD; at 31/12/2023: 1 BHD = 2.63643 USD; at 31/12/2022: 1 BHD = 2.63554 USD; at 31/12/2021: 1 BHD = 2.63667 USD; at 31/12/2020: 1 BHD = 2.63793 USD
Bahraini insurance market: turnover by company type (2020-2024)
Figures in thousands USD
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| Company type | 2020 | 2021 | 2022 | 2023 | 2024 | Evolution 2023-2024 (1) | Shares 2024 |
| Traditional companies | 412 902 | 403 379 | 415 440 | 439 620 | 475 822 | 8.63% | 56.97% |
| Takaful companies | 209 934 | 216 626 | 211 776 | 223 582 | 245 727 | 10.30% | 29.42% |
| Local companies | 622 836 | 620 005 | 627 216 | 663 202 | 721 549 | 9.19% | 86.39% |
| Foreign companies | 107 533 | 107 529 | 109 254 | 107 332 | 113 663 | 6.28% | 13.61% |
| Grand total | 730 369 | 727 534 | 736 470 | 770 534 | 835 212 | 8.79% | 100% |
(1) Growth rate in local currency
Bahraini insurance market: turnover by class of business (2020-2024)
Figures in thousands USD
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| Classes of business | 2020 | 2021 | 2022 | 2023 | 2024 | Evolution 2023-2024 | Shares 2024 |
| Health | 174 824 | 183 797 | 196 100 | 220 996 | 255 641 | 16.10% | 30.61% |
| Motor | 189 564 | 189 669 | 196 725 | 206 151 | 226 104 | 10.08% | 27.07% |
| Fire | 93 530 | 96 869 | 102 354 | 110 954 | 105 357 | -4.70% | 12.61% |
| Engineering | 19 270 | 18 299 | 22 439 | 31 049 | 39 437 | 27.48% | 4.72% |
| Third-party liability | 14 991 | 19 878 | 21 142 | 22 270 | 24 490 | 10.37% | 2.93% |
| Miscellaneous financial losses | 10 718 | 11 311 | 17 474 | 19 763 | 20 038 | 1.76% | 2.40% |
| Marine | 15 962 | 12 529 | 14 569 | 12 133 | 15 659 | 29.53% | 1.88% |
| Property damage | 19 732 | 20 745 | 17 049 | 18 418 | 15 465 | -15.73% | 1.85% |
| Aviation | 6 215 | 6 787 | 9 164 | 10 430 | 11 149 | 7.28% | 1.34% |
| Other risks | 20 848 | 27 904 | 45 310 | 40 179 | 45 306 | 13.17% | 5.42% |
| Total non-life | 565 654 | 587 788 | 642 326 | 692 343 | 758 646 | 9.97% | 90.83% |
| Total life | 164 715 | 139 746 | 94 144 | 78 191 | 76 566 | -1.72% | 9.17% |
| Grand total | 730 369 | 727 534 | 736 470 | 770 534 | 835 212 | 8.79% | 100% |
(1) Growth rate in local currency
Bahraini insurance market: net earned premiums by non-life class of business (2020-2024)
Figures in thousands USD
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| Class of business | 2020 | 2021 | 2022 | 2023 | 2024 | Evolution 2023-2024 (1) |
| Health | 120 332 | 121 384 | 127 595 | 144 682 | 164 585 | 14.17% |
| Motor | 186 312 | 182 574 | 190 552 | 200 079 | 212 757 | 6.72% |
| Fire | 10 196 | 9 386 | 10 946 | 10 061 | 9 226 | -7.97% |
| Engineering | 4 885 | 2 323 | 2 915 | 1 577 | 1 489 | -5.18% |
| Third-party liability | 2 501 | 2 397 | 3 408 | 2 560 | 2 942 | 15.35% |
| Miscellaneous financial losses | 1 050 | 1 120 | 1 552 | 2 452 | 3 649 | 49.35% |
| Marine | 3 416 | 3 900 | 4 080 | 3 382 | 3 468 | 2.88% |
| Property damage | 2 137 | 1 788 | 1 797 | 593 | -315 | -153.33% |
| Aviation | 5 | - | -3 | -3 | -3 | - |
| Other risks | 5 882 | 7 264 | 12 139 | 11 139 | 12 759 | 14.96% |
| Total non-life | 336 716 | 332 136 | 354 981 | 376 522 | 410 557 | 9.44% |
(1) Growth rate in local currency
Bahraini insurance market: net incurred losses by non-life class of business (2020-2024)
Figures in thousands USD
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| Class of business | 2020 | 2021 | 2022 | 2023 | 2024 | Evolution 2023-2024 (1) |
| Health | 86 667 | 89 684 | 95 151 | 120 224 | 138 067 | 15.26% |
| Motor | 101 426 | 98 087 | 109 422 | 119 438 | 132 529 | 11.36% |
| Fire | 2 991 | -145 | 3 134 | 6 074 | -247 | -104.08% |
| Engineering | 1 773 | 1 379 | 1 265 | -1 139 | -47 | -95.83% |
| Third-party liability | 330 | 287 | 443 | - | -184 | - |
| Miscellaneous financial losses | 163 | 670 | 134 | 206 | 791 | 285.90% |
| Marine | 1 021 | 662 | 221 | 50 | 967 | 1836.84% |
| Property damage | 844 | 822 | 1 295 | 29 | 87 | 200% |
| Aviation | - | - | - | - | - | - |
| Other risks | 997 | 3 201 | 5 350 | 2 436 | 5 374 | 121.43% |
| Total non-life | 196 212 | 194 647 | 216 415 | 247 318 | 277 337 | 12.54% |
(1) Growth rate in local currency
Bahraini insurance market: net loss ratio by non-life class of business (2020-2024)
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| Class of business | 2020 | 2021 | 2022 | 2023 | 2024 |
| Health | 72.02% | 73.88% | 74.57% | 83.10% | 83.89% |
| Motor | 54.44% | 53.72% | 57.42% | 59.70% | 62.29% |
| Fire | 29.34% | -1.54% | 28.63% | 60.38% | -2.68% |
| Engineering | 36.29% | 59.36% | 43.40% | -72.24% | -3.17% |
| Third-party liability | 13.19% | 11.99% | 12.99% | - | -6.25% |
| Miscellaneous financial losses | 15.58% | 59.76% | 8.66% | 8.39% | 21.67% |
| Marine | 29.88% | 16.97% | 5.43% | 1.48% | 27.88% |
| Property damage | 39.51% | 46.02% | 71.99% | 4.89% | -27.50% |
| Aviation | - | - | - | - | - |
| Other risks | 16.95% | 44.07% | 44.07% | 21.87% | 42.12% |
| Total non-life | 58.27% | 58.60% | 60.97% | 65.68% | 67.55% |
Source: Central Bank of Bahrain (CBB)
