Bahrain-based Al Ahlia Insurance will retain a separate corporate and brand identity despite the proposed acquisition of controlling stake by Bahrain National Holding Group (
BNH).
BNH corporate communications manager Fatima H Bahlool said: "In this report we wanted not only to highlight our achievements throughout the year, but also spread the message of conservation portrayed in a unique and useful manner which is what
BNH believes in; prosperity through protection and participation."
The
BNH chairman expects the insurance market growth to accelerate over the medium term, on the back of $32.5 billion of infrastructure and development projects to be completed in the coming years.
The
BNH Group's total assets soared to BD83.04 million last year from BD76.74 million in 2012.
BNH chief executive Sameer Al Wazzan commented: "After a challenging 2017 and first half 2018, it is indeed satisfying to witness the results of our efforts at controlling claims, while maintaining a solid reserve position.
Bahrain National Holding (
BNH) chief executive Mahmood Al Soufi told the Gulf Daily News, our sister publication, that the company has invested about BD2.5 million ($6.48 million) for a new high-tech facility in Salmabad.
BNH IT manager Khalid Jalal received the award in the IT Symposium and award ceremony held in Dubai and attended by top IT corporations and managers from the region.
BNH chairman Farouk Almoayyed commented: "Despite the economic and political challenges facing the region, the group managed to achieve good results especially in the third quarter of this year, where it achieved good results and net profit rose significantly, but the previous results and the decline in profits had an impact on the overall net profit.
Bahrain National Holding Company (
BNH) has reported 64 per cent rise in net profit at BD2.3 million ($6.1 million) for the nine months ended September 30, compared with BD1.4 million for the same period last year.
Bahrain National Insurance (bni) - a wholly-owned subsidiary of Bahrain National Holding (
BNH) - has won the 'Best of Nation' award by the World Logo Design Awards (Wolda).
MANAMA: Bahrain National Holding (
BNH) has reported an increase of 54 per cent in net profit for the second quarter at BD1.33 million when compared with BD864,000 during the second quarter of the previous year.