There is growing recognition of the importance of financial security in the workplace in the GCC, with the average age of those with income protection falling to 41 from 51 over the last three years, according to Zurich International Life Insurance Middle East, a subsidiary of Zurich Insurance Group.
Manama-based Mada Brokers has launched the first insurance aggregator in Bahrain, the company announced in a statement.
Regional reinsurer Arab Insurance Group (Arig) has reported a consolidated net profit of $1.6m attributable to shareholders for the first quarter of 2025, a fall of 81% from the $8.3m posted for the first three months of 2024.
Solidarity Bahrain has received the Central Bank of Bahrain's final approval for the acquisition of Bahrain National Insurance Company (BNI) and Bahrain National Life Company (BNL) for a total purchase price of BHD75m ($199m) in cash.
Solidarity Bahrain's successful pursuit of an inorganic growth strategy has strengthened the group's position as the number one insurance provider in Bahrain and marks a step towards growing an international business. This statement appears in Solidarity's 2024 annual report released last week.
The Shura Council, the upper house of the National Assembly, has passed a proposal to make professional liability insurance compulsory in the healthcare industry.
Takaful International, the first Islamic insurance company in Bahrain, has formed a partnership with Zain Bahrain, part of Zain Group, a leading telecommunications operator across the Middle East and Africa, which provides mobile voice and data services.
Arab Insurance Group (Arig) has announced positive financial results for 2024, with net profit amounting to $26.44m attributable to shareholders, almost 90% higher than the $13.98m chalked up for 2023.
The GCC healthcare industry is poised for strong growth driven by macro-economic factors, the expansion of mandatory health insurance and a growing and ageing population, according to UAE-based Alpen Capital, an investment banking advisory firm.
Takaful International Company has announced that the first Islamic Insurance Company in Bahrain, says that its total net profit reached BHD1.65m ($4.38m), representing a 9% growth from BHD1.51m in 2023, mainly attributed to strong investment performance.