Bahrain-based Al Ahlia Insurance posted a net profit for the first half of the year of BD2.2 million ($5.8 million) as against last year's half yearly figure of BD941,778, registering a growth of 135 per cent.

The net profit also includes an amount of BD647,379 profit from insurance operations for the period.

The company's net earned premiums for the period grew by 36 per cent to BD2.4 million against last year's corresponding figure of BD1.8 million while its gross premiums for the period grew by 18 per cent to BD6.9 million from last year's figure of BD5.9 million.

Investment income for the period was BD1.9 million compared to last year's corresponding figure of BD546,871 registering a growth of 253 per cent.

Shareholders equity also increased by 60 per cent to BD22 million as at June 30 this year from BD13.8 million for the same period last year.

"Customers are the mainstay of our business and therefore our main focus has always been to give personalised and prompt service to them and we are quite successful in achieving a high level of customer satisfaction," said general manager Yahya Nooruddin.

"This is evident from the fact that we could defend our market share efficiently in the face of severe competition.

"Our new branches, one at Sitra Mall opened last year and the other at Riffa opened this year, are doing well because of their strategic locations."-TradeArabia News Service