Bahrain National Holding Company (BNH) yesterday announced a net profit of BD2.2 million ($5.9 million) for the first nine months of this year, compared with $6.6 million for the same period last year.

The company registered net earned premium income of $26.4m for the period compared with $27.3m for the same period in 2010.

Underwriting profit was $3.4m compared with $3m for the same period in 2010, a statement from the company said.

Net investment income for the period decreased to $5m compared with $5.8m for the same period in 2010.

'We are very pleased with the results  the group, subsidiaries and associates have achieved during the third quarter of this year and the year to date, considering the regional and world economic and political situation,' BNH chief executive Mahmood Al Soufi said.

'This reflects our commitments and sounds the strategic direction that we have set for the group of investing and expanding in the core and complementing insurance businesses locally and regionally,' Al Soufi added. – TradeArabia News Service