Bahrain: Listed insurers' 2019 aggregate profits soar 81% to $47.9m

Source: Middle East Insurance Review | Apr 2020

Insurers listed on the Bahrain Bourse posted an aggregate profit of BHD18m ($47.9m) in 2019, 81% higher than the BHD9.9m seen for 2018.

The insurance sector represented on the bourse comprises five companies, namely, Bahrain National Holding Company, Arab Insurance Group (Arig), Bahrain Kuwait Insurance, Solidarity Bahrain, and Takaful International.

The companies all reported profits, with the surge in the aggregate result driven by Arig.

The reinsurer topped the group with a net profit of $17.5m (BHD6.6m) in 2019, a turnaround from losses of $55.3m in 2018. In a statement, Arig said the improved results were due to higher investment income, an absence of catastrophe losses and lower operating expenses. M

BHD1 = $2.66

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