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A report published by Alpen Capital estimates that the Bahraini insurance market's turnover should increase by 2.2% per year to reach 800 million USD in 2026. The average annual growth rate over five years of the life activity has been estimated at 4.7% compared to 1.4% for the non-life business.
The insurance penetration rate and the insurance density in the Kingdom are likely to reach 1.7% and 514.8 USD respectively.
The market growth is expected to be driven by the recovery of the economy, population growth, infrastructure development and the introduction of mandatory health insurance for expats.