Bahrain National Holding Company (BNH) has posted a net profit of BD2.268 million ($6.017 million) for the nine months ended September this year.

This is in comparison to BD3.543 million for the same period last year which included non-recurring profits of BD1.125 million.

The company, the parent of Bahrain National Insurance (bni) and Bahrain National Life Assurance (BNL) Company, registered net earned premium income of BD10.068 million for the period in comparison to BD9.707 million for the same period last year, an increase of 3.7 per cent.

Underwriting profit was down at BD1.756 million in comparison to BD2.173 million for the same period last year due to a higher incidence of claims during the current year.

The net investment income for the period was BD1.769 million compared to BD1.363 million for last year as a result of an improvement in global stock markets during last year.

'Working in a competitive and highly challenging environment requires a focused vision and apt execution,' said BNH chief executive officer Mahmood Al Soufi.

'Having said that we at BNH strongly believe in our strategic vision which has proven to benefit all our valued stakeholders and highly contributed to these positive results,' he said.

'It is also a result of our ability to envision products and services that the market needs, supported by our professional human capital.'-TradeArabia News Service