Abstract: Structure, conduct and performance of Sharia insurance industry in Indonesia have been analyzed in this study. This analysis once reexamined the hydeveloped by Bain. The method used in this research is the survey explanatory with hypothesis testing. Population of 49 Sharia insurance companies listed on the Financial Services Authority (FSA) which includes life insurance sharia, sharia insurance and reinsurance companies. Structure is measured by concentration ratio of 4 biggest companies (CR4), conduct is measured by the cost of the advertisement with the total sales ratio and the performance is measured by Return On Assets (ROA) and Return On Equity (ROE). To test the hypothesis the three variables and multiple regression are used. The results showed that the structure of the Sharia insurance industry in Indonesia is categorized as tight oligopoly. By partial and multiple structures, conduct and performance of Sharia insurance industry in Indonesia had a positive relationship.