Solidarity Bahrain, one of the largest insurers of Bahrain, has introduced a pioneering mobile application, 'Solidarity Drive', aimed at promoting safer driving behaviours across Bahrain.
Solidarity Bahrain and Bahrain National Holding Company (BNH) have signed the final sale and purchase agreement by which the former acquires the latter.
The Social Insurance Organisation (SIO) announced a 1% increase in employer contributions to mandatory social insurance, effective January 2025. According to a circular sent to the owners of companies, the total employer contribution will rise to 17%.
Doctors in Bahrain will likely be required to acquire medical liability insurance to protect against claims of medical errors, under a proposed law that seeks to consolidate scattered and outdated liability regulations into a single framework.
Tourists visiting in Bahrain will soon need to include health insurance as part of their visa application process, with an additional fee to cover emergency and accident-related care.
Solidarity Bahrain, a subsidiary of Solidarity Group Holding, has announced that it has acquired a stake of 28.985% in Alliance Insurance, an insurer based in Dubai and listed on the Dubai Financial Market.
The net profits of insurance companies operating in Bahrain fell by 43.5% to BHD15.78m ($41.87m) in the first half of 2024, compared to BHD27.91m in the corresponding period of 2023, according to the "Insurance Market Review June 2024", released by the Central Bank of Bahrain earlier this month.
Takaful International Company enjoys the strategic support of its parent company, GIG-Bahrain, and Gulf Insurance Group, as well as synergies with them and the group's disciplined approach to corporate governance.
Bahrain Kuwait Insurance Company (GIG Bahrain) has a track record of strong operating performance, notes AM Best. In 2023 (under IFRS 17), the insurer generated a return on equity of 11.4% and a net-net combined ratio of 95.7% (both as calculated by AM Best).
Operating performance assessment of Bahrain-based Gulf Insurance Group (Gulf) [GIG Gulf] considers the company's history of strong overall profitability, underpinned by robust underwriting performance says AM Best.