Bahrain National Holding’s net profits fall by 13%

In 2011, Bahrain National Holding reported a net profit of 3.3 million BHD (8.7 million USD), down by 13% compared to 2010. The company attributes this decrease to the poor performance of its investments. Net underwriting result rose by 2.2 million BHD (5.8 million USD) but gross premiums fell by 5.1% at 21.9 million BHD (58.2 million USD). At the level of the group, Bahrain National Insurance, the non-life company, posted a profit of 2.96 million BHD (7.8 million USD) versus 3.52 million BHD (9.3 million USD) in 2010. Bahrain National Life, the life company, saw its net profit soar by 84% at 692 000 BHD (1.8 million USD).