Bahrain National Insurance (bni), a wholly owned subsidiary of Bahrain National Holding (BNH), was granted a licence to operate in Doha for general insurance business.

Bni will be seeking to capture a share of Qatar's existing and future risks by offering general insurance products as retail, motor and personal lines as well as corporate, including commercial and industrial policies.

It plans to grow gradually in the Qatari market by capitalising on its expertise in developing the insurance industry.

The company will commence its business operations from its first branch in Doha during 2011-2012 before branching out to other GCC countries.

'As an insurance provider bni understands that spread of risk is critical to sustainable profitable growth of any insurance company,' said general manager Joseph Rizzo.

'We believe that Qatar will offer this spread. We see that it has a fast developing economy with indigenous market expansion in various areas of interest such as the hospitality, construction and commercial sectors where bni will be competing to provide its services,' Rizzo added.

'This expansion further proves BNH's commitment towards its strategic investment plans to strengthen its position in the regional market,' said BNH chief executive Mahmood Al Soufi.

'This strategic investment will also reflect our commitment towards the insurance industry locally and regionally,' he added.-TradeArabia News Service