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SNIC report growth in gross premiums
- Bahrain: Monday, March 18 - 2013 at 07:38
Bahrain-headquartered Saudi National Insurance Co (SNIC) has said gross written premiums (GWP) have climbed to BD11.44m in 2012, compared with BD10.62m in the previous year, Gulf Daily News has reported. Last year, the net earned premium stood at BD2.42m, a growth of 21% in comparison to the same period in 2011, the firm said. In the fourth quarter of 2012, Standard & Poor's reaffirmed SNIC rating for the second consecutive year, with the long-term counterparty credit and insurer financial strength rating of 'BBB' with 'Stable' outlook, reflecting the company's strong capitalisation and conservative investment strategies.
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