Returns made by Bahrain National Insurance Company (BNI) are expected to remain strong, going forward, says AM Best.
The Central Bank of Bahrain (CBB) says that it is currently developing Environmental, Social, and Governance (ESG) disclosure guidelines to assist companies, including insurers and banks, with ESG integration and reporting.
SNIC Insurance in 2021 marked its second consecutive year of achieving a combined ratio below 100%, following underwriting losses in prior years, points out AM Best.
Dubai-based online-only insurer Beema, part of the diversified state-owned global energy group, Emirates National Oil Company (ENOC), is expanding its operations within the GCC to include Bahrain.
The Central Bank of Bahrain (CBB) says that the kingdom's insurance industry has shown steady results for the six months ended 30 June 2022.
Insurance is one of the most promising sectors in Bahrain and is growing at an average rate of between 8 and 9% annually, Mr Abdul Rahman Al-Baker, executive director of Supervision of Financial Institutions at the Central Bank of Bahrain (CBB), has said.
Gulf Insurance Group (Gulf) [GIG Gulf] in Bahrain has a history of strong overall profitability, with a five-year (2017-2021) weighted average return-on-equity ratio of 11.9%, says AM Best.
Bahrain Kuwait Insurance Company's (GIG Bahrain) underwriting performance has improved following its management's actions in the motor line of business, increased retention of profitable business and further synergies with its subsidiary Takaful International Company (GIG Bahrain Takaful).
Bahrain National Holding Company (BNH), which is among the top three insurance groups in the kingdom, has established an internal actuarial unit.
A new leadership team has been appointed to oversee the NLGIC Group of companies following the recent purchase of RSA Middle East by National Life & General Insurance Company (NLGIC), a flagship insurance subsidiary of Oman International Development and Investment Company (Ominvest). The NLGIC Group is the largest insurance group in Oman.