Bahrain captive services launch
Marsh is set to become the first international broker to offer captive insurance management services in Bahrain, with the announcement made at Gateway Gulf in Manama. Although Bahrain has had dedicated captive legislation since 2005 and its framework is regulated by the Central Bank of Bahrain under Volume 3 of its Insurance Rulebook, no international broker has previously offered managed captive services in the jurisdiction. Marcin Antosik, Marsh's captive operations leader for the Middle East, will lead the Bahrain offering alongside existing regional operations, while Noor Al-Haji serves as chief executive of Marsh Bahrain and Kuwait.
Regional market growth and exposures
The launch coincides with rising corporate appetite for captive structures across the Gulf Cooperation Council. Total captive-related assets under Marsh management in the Middle East reached US$612 million in 2023, representing a 40% year-on-year increase, while net income of Marsh-managed captives in the region surpassed US$100 million. Property remains the most popular line of business among these captives, alongside portfolios covering political violence, liability, construction and group accident programmes, as businesses increasingly treat captives as a strategic risk-financing tool for complex exposures such as supply chain disruption and cyber risk.