The Company registered Net Earned Premium income of BD10.068m for the period in comparison to BD9.707m for the same period in 2008, an increase of 3.7%.
Underwriting profit was down at BD1.756m in comparison to BD2.173m for the same period in 2008 due to a higher incidence of claims during the current year. The net investment income for the period was BD1.769m compared to BD1.363m for last year as a result of an improvement in global stock markets during 2009.
Mahmood Al Soufi, Chief Executive of BNH, commented, "Working in a competitive & highly challenging environment requires a focused vision and apt execution; 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. It is also a result of our ability to envision products and services that the market needs, supported by our professional human capital."
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Bahrain National Holding announces net profit of BD2.268m for nine months ended 30 September 2009
- Bahrain: Monday, November 09 - 2009 at 16:21
- PRESS RELEASE
Bahrain National Holding Company (BNH), the parent company of Bahrain National Insurance (BNI) and Bahrain National Life Assurance (BNL), has announced today a net profit of BD2.268m for the nine months ended 30 September 2009. This is in comparison to BD3.543m for the same period last year which included non recurring profits of BD1.125m.
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About Bahrain National Holding Company: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), and National Finance House (Bahrain). BNH is also a shareholder and founding member of the Gulf Insurance Institute (GII), an institute specialized in conventional and Islamic insurance as well as Al Kindi Specialized Hospital.
For more information, please contact:
The Corporate Communications Department
Bahrain National Holding B.S.C.
Tel: + 973 17 587 322
Fax: + 973 17 583 099
P.O. Box 843 Manama, Kingdom of Bahrain
Posted by Siba Sami AmmariMonday, November 09 - 2009 at 16:21 UAE local time (GMT+4)
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