Bahrain's Islamic Insurance Sector Poised for Growth Amid Low Penetration
What happened
A new report by Moody’s Ratings discusses the growth and market status of the global takaful sector. The report found that Bahrain’s Islamic insurance sector is well-positioned for expansion over the next two to three years. This outlook is supported by economic growth and low insurance penetration rates in the country, which currently stand at 1.7 per cent of gross domestic product (GDP).
From gdnonline.com
Why it matters
The sector's growth is underpinned by the expansion of compulsory health insurance mandates and official efforts encouraging long-term savings. While Bahrain is leading in this regard, the UAE recorded a higher penetration rate of 3.3 per cent. Analysts noted that global takaful contribution growth is expected to maintain a moderate upward trajectory.
From gdnonline.com
Who's involved
- BahrainMarket focus: Bahrain's Islamic insurance sector
- MalaysiaMarket leader in target Islamic finance with 5.3 per cent penetration
- UAEGCC leader in insurance penetration at 3.3 per cent
- Saudi ArabiaMarket example with 1.4 per cent penetration
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- BahrainSpeculative
The sector might see increased business due to the expansion of compulsory health insurance mandates.
How this reaches others
Each traced step by step, with the reporting behind itKeep exploring
The entities involved
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Bahrain
country in the Persian Gulf
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UAE
computer emulator which emulates the hardware of Commodore International's Amiga range of computers
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Malaysia
country in Southeast Asia
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Saudi Arabia
country in West Asia