Al Ahlia Insurance registers 9 month net profit

Manama : Al Ahlia Insurance Company yesterday reported nine-month net profit of BD451,590, compared to a net loss of (BD659,890) for the same period last year.

The firm’s net profit from insurance operations during the nine months of this year stood at BD1,460,642 compared to BD1,267,625 an increase of BD193,017 (15 per cent) over the same period of last year. 

Gross premium stood at BD10,591,138 compared to BD8,184,769 for the same period of last year. 

“The excellent results were due to company’s continued prudent underwriting methods and better claims’ management,” said S. Veerapandian, Acting General Manager. The net earned premium stood at BD6,521,105 for the third quarter 2016 compared to BD4,086,802 for the same period last year.

The firm’s net loss for the three months’ period ending September 2016 stood at (BD174,411) compared to a net loss of (BD1,097,446) for the same period of last year. 

The year 2016 is a milestone year for Al Ahlia having completed 40 years of operations in Bahrain.  On that note, S. Veerapandian, expressed keenness to close the books for the year on a positive result, maintaining enhanced customer service.