OREANDA-NEWS. Al Ahlia Insurance Company announced the financial results for the first quarter of year 2015. The company has reported a net profit of BD 456,590 compared to BD 349,111 for the same period of last year representing an increase of 31%.

The firm’s net profit from insurance operations during first quarter of this year stood at BD 355,611 compared to BD 80,088 by increase of BD 275,523 (344%) for the same period of last year as a result of company’s prudent underwriting methods and better claims’ management. The Gross premium stood at BD 2,326,716 compared to BD 2,509,172 for the same period of last year.

The net earned premium stood at BD 1,302,022 for the first quarter 2015 compared to BD 1,327,443 for the same period last year.

Mr. Al-Khatib added that the investment portfolio, in turn, made a reasonable profit, despite the general decline in the regional financial markets due to the decline in oil prices which started in the 4th quarter of last year.

In addition, the company booked a reserve of BD 131,584 for few investment shares owned by the company's which market value fell as a result of the decline in capital markets and the decline of trading during this year, however, we believe that the regional financial market will shortly correct itself & resume natural growth in the near future to offset this decline & hence again generate good investment profits in the forthcoming period.

About Al Ahlia Insurance Company:

Al Ahlia Insurance is one of the oldest publicly shareholding companies providing all classes of insurance in the Kingdom of Bahrain. Having been established in 1976, the company gained tremendous credibility and a renowned name in a highly competitive market. Al Ahlia shall continue to explore the avenues to adapt our products to suit the ever-changing needs of the society