This has encouraged many insurance and reinsurance firms to choose Bahrain as a base. BIS Review 47/2008  1  The Central Bank of Bahrain has also put in place a framework allowing for the establishment of captive insurance firms.
This initiative by the CBB is the first of its kind in the Middle East region, aiming to fulfill the insurance needs of major industrial, oil, and service firms that seek to establish their own insurance companies. Bahrain succeeded in 2006 in attracting Tabreed Company as the first captive insurance company, licensed in the GCC.