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BD1.621m BNH's midyear net profit

Bahrain National Holding Company (BNH - the parent company of Bahrain National Insurance, bni and Bahrain National Life ,BNL) has announced today its midyear financial results for 2009.

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  • Mahmood Al Soufi, Chief Executive of BNH.
    Mahmood Al Soufi, Chief Executive of BNH.

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Registering Total Gross Premiums for the period of BD14.260m ($37.824m) enabled BNH to achieve a net profit of BD1.621m ($4.299m).

Net earned premiums reached BD6.679m ($17.716m) with an increase of 4% for the same period last year.

The underwriting profit recorded was BD1.330m ($3.527m) compared to BD1.528m ($4.053m) for the same period in 2008.

Mahmood Al Soufi, Chief Executive of BNH, commented:
"Recovering from the global financial crisis has certainly become a challenge; however we at BNH continue our horizontal and vertical expansion plans. We have a positive outlook for the rest of the year, especially with S&P's reinstating bni's BBB+ rating."

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Home : News : Company News : B : Bahrain National Holding (BNH)
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» Bahrain National Holding (BNH) company profile
Related site: http://www.bnhgroup.com

Notes and media contacts

About Bahrain National Holding:
BNH, formed in 1998 - a merged company of formerly Bahrain Insurance Company and National Insurance Company- and owner of Bahrain National Insurance Company offers a full fledged range of Insurance and Management of Risk solutions. The Group's paid-up capital of BD11.35m makes it one of the most secure insurance companies in the Gulf region. The Group's portfolio includes Bahrain National Life Assurance Company along with other associate companies; United Insurance Company (Bahrain), Arabian Shield Cooperative Insurance Company (Saudi Arabia), National Finance House (Bahrain) Al Kindi Specialized Hospital and Al Jasr Takaful Insurance Company. BNH is also a shareholder and founding member of the Gulf Insurance Institute (GII), a training institute specializing in conventional and Islamic insurance.

For more information, please contact:
The Corporate Communications Department
Tel: + 973 17 587 320
Fax: + 973 17 583 099
Rana Mesbah Posted by Rana Mesbah
Monday, August 10 - 2009 at 15:04 UAE local time (GMT+4)

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