Profits up 152pc for Bahrain's Al Ahlia Insurance
The Al Ahlia Insurance company of Bahrain reported a net profit of 2.32 million Bahraini dinars on Sunday, reflecting a 152 percent increase as compared to the previous year.
"We are very pleased with Al Ahlia's performance in 2005. The company is growing from strength to strength and we plan to strive towards another impressive performance in 2006," said chairman Hussain Sajwani, according to Gulf News.
Al Ahlia's gross premium grew to 7.11 million dinars in 2005 up from 6.75 million dinars in 2004.
Through this performance, Al Ahlia increased shareholders' equity by an impressive 66percent, from 6.68 million dinars in 2004 to 11,182,003 dinars in 2005.