Bahrain’s Islamic insurance sector is well-positioned for expansion over the next two to three years, supported by economic growth, low insurance penetration rates, and government initiatives driving financial inclusion, according to a new report by global rating agency Moody’s Ratings.
The industry report, titled ‘Global Takaful Sector Resilient Despite Geopolitical Risk, Consolidation to Continue’, highlights that insurance penetration in the kingdom currently stands at 1 .
