Insurance companies listed on the Bahrain Bourse posted an aggregate profit of BHD18m ($47.7m) for the 2019 financial year, 81% higher than the BHD9.9m seen for 2018.
The insurance sector represented on the Bahrain Stock Exchange 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 profits of $17.5m (BHD6.6m) in 2019. In contrast, in 2018, it posted losses of $55.2m.
The results of the five companies are summarised as follows:
|
Company
|
Net profits 2019
|
Change from 2018
|
|
Arig
|
BHD6.6m
|
Turnaround from losses
|
|
Bahrain National Holding
|
BHD5.0m
|
+44%
|
|
Solidarity Bahrain
|
BHD2.9m
|
+13%
|
|
Bahrain Kuwait Insurance
|
BHD2.8m
|
-14%
|
|
Takaful International
|
BHD0.7m
|
+6%
|