BNH plans to expand in the Gulf

Bahrain National Holding (BNH) is intent on establishing an insurance subsidiary company in Abu Dhabi. BNH claims to be in the final stage of talks with giant local investors. The new company is likely to start operations in June. BNH already holds 30% of Bahrain Emirates Insurance, whose head office is located in Abu Dhabi. NBH is also seeking license to operate in Qatar. The company reported a net profit of 3.81 million BHD (10 million USD) in 2010, that is, an increase of 5% over one year and a ROE of 9%.