Insurance

The growth of new firms and the consolidation of older players are helping the sector advance. With 36 insurance and reinsurance companies in operation as of December 2017, Bahrain’s insurance sector is well developed, particularly when taking into account the size of the economy by both GCC and emerging market standards. The market comprised 14 conventional locally incorporated firms (including two reinsurers), 12 branches of foreign conventional firms (including three reinsurers), and eight takaful (Islamic insurance), firms (including two re-takaful, or Islamic reinsurance, firms). The market also includes 32 insurance brokers and 25 firms licensed to operate outside of Bahrain.