Overall rates of insurance penetration in the Middle East are not high. However, Bahrain, having established its credentials as a financial services hub for the region, is looking to boost its insurance sector by taking a proactive approach, both in terms of product development and in terms of implementing an effective regulatory framework.
As a key player in the Middle East, Bahrain provides unique opportunities for product development. One area that is receiving increasing attention is the further development of Islamic insurance (takaful).
