Bahrain National Holding Company (BNH) has posted a net profit of $6.6 million for the nine months ended September 30 against $6 million for the same period last year.

BNH is the parent company of Bahrain National Insurance and Bahrain National Life Assurance .

The company registered net earned premium income of $27.2 million for the period compared to $26.7 million last time. Underwriting profit was at $3 million in comparison to $4.8 million due to higher than expected claims.

Net investments income increased to $5.8 million from $3.4 million.

'We are very pleased with our continued positive performance,' said BNH chief executive Mahmood Al Soufi.

'It is a result of our focused strategic initiatives which have been implemented and executed carefully over the past year.

'We hope to continue our positive performance despite the current market difficulties and the growing number of competitors in the local market,' he added.-TradeArabia News Service