Bahrain's insurance market boasts record growth, says CBB

Bahrain's insurance market posted its strongest ever annual growth in 2007, with gross premiums soaring 21% over 2006 levels, according to the Central Bank of Bahrain (CBB). Life insurance rocketed by nearly 67%, providing the lion's share of the growth, with medical and motor insurance also seeing a strong increase in demand, rising 39% and 16% respectively. The profitability of insurance funds jumped by 56%, while their total assets grew by 42%. The number of firms operating in Bahrain during 2007 was 163, of which 11 were branches of foreign firms. Abdul Rahman Al Baker, executive ...