Bahrain National Holding Company (BNH) registered total gross premiums for the first half of the year of BD14.260 million ($37.824 million).

That enabled it to achieve a net profit of BD1.621 million.

BNH is he parent company of Bahrain National Insurance, bni and Bahrain National Life.

Net earned premiums reached BD6.679 million, an increase of four per cent over the same period last year. The underwriting profit recorded was BD1.330 million compared to BD1.528 million.

'Recovering from the global financial crisis has certainly become a challenge. However, we at BNH continue our horizontal and vertical expansion plans,' said BNH chief executive Mahmood Al Soufi.

'We have a positive outlook for the rest of the year, especially with S&P's reinstating bni's BBB+ rating.'-TradeArabia News Service