BNH registers net profit of $5.96m
Manama, July 24, 2008
Bahrain National Holding Company (BNH), the parent company of Bahrain National Insurance and Bahrain National Life, achieved a net profit of BD2.25 million ($5.96 million) in the first half of the year.
Underwriting profit reached BD1.528 million in comparison to BD1.319 million for the same period last year, an increase of 15.8 per cent.
The company registered total gross premiums in the first half of the year of BD17.8 million. Net earned premiums reached BD6.417 million an increase of 7.4 per cent from BD5.975 million for the same period last year.
"Working in unstable soft market conditions is certainly a challenge we took upon ourselves here at BNH to overcome," said BNH chief executive Mahmood Al Soufi.
"We are very pleased with our results for this period. This achievement reflects our teams' appreciated efforts to expand the options of our proposed services to the clients and achieve customers' satisfaction."-TradeArabia News Service