Bahrain National Holding Company

Set up in 1999 after the merger of life and non-life activities of two companies, Bahrain National Holding (BNH) is the leading composite insurance group established in Bahrain.

The group’s activities are structured around Bahrain Insurance Company, a non-life insurance company and Bahrain National Life Assurance, a single local life insurer.

First company in terms of shareholder’s equity in 2011, BNH acquired financial strength which allows it not only to secure its partners and customers, but also to diversify its investments.

Despite the crisis experienced by the countries of the region in recent years, BNH has continued to generate substantial profits in 2009, 2010 and 2011.

Thanks to its local performance, the group began its regional expansion. BNH has targeted markets in the MENA region and in particular Qatar and the United Arab Emirates.

Farouk Yousif Almoayyed	Mahmood Al Soufi
Chairman	CEO

Main technical highlights: 2007-2011

in USD

	2007	2008	2009	2010	2011
Gross written premiums	71 913 203	73 726 856	65 399 170	60 979 924	57 954 494
Written premiums net of reinsurance	32 941 156	34 676 425	35 957 116	35 050 184	35 250 208
Net earned premiums	31 793 536	33 929 451	35 417 720	35 887 479	35 316 309
Net incurred losses	21 070 210	18 458 673	20 721 812	20 673 533	20 274 422
Net management expenses	5 008 750	7 067 321	7329445	10 279 979	9 917 757
Net loss ratio*	67.96%	53.50%	55.09%	53.36%	52.86%
Net expenses ratio*	13.92%	19.05%	19.87%	28.95%	29.52%
Net combined ratio*	81.88%	72.55%	74.96%	82.31%	82.38%
Net technical result	5 244 025	8 024 710	7 860 909	5 303 750	5 901 475
Financial income	8 111 770	1 139 872	6 779 472	6 946 645	4 566 240
Net result	18 800 203	5 315 614	10 758 843	10 073 956	8 738 519

* Non life insurance only

Technical ratios: 2007-2011*

* Non life insurance only

Gross written premiums per class of business: 2007-2011

in USD

	2007	2008	2009	2010	2011	Shares 2011	2010/11 evolution
Non life	47 988 319	62 569 590	52 895 221	47 810 352	44 213 470	76.29%	-7.52%
Life and health	23 924 884	11 157 266	12 503 949	13 169 572	13 741 024	23.71%	4.34%
Total	71 913 203	73 726 856	65 399 170	60 979 924	57 954 494	100%	-4.96%

Split of gross written premiums per class of business in 2011

Net incurred losses: 2007-2011

in USD

	2007	2008	2009	2010	2011	2010/11 evolution
Non life	17 739 758	14 739 585	15 507 647	14 532 488	13 801 837	-5.02%
Life and health	3 330 453	3 719 089	5 214 165	6 141 046	6 472 585	5.39%
Total	21 070 211	18 458 674	20 721 812	20 673 534	20 274 422	-1.93%

Technical results: 2007-2011

in USD

	2007	2008	2009	2010	2011	2010/11 evolution
Non life	556 818	7 453959	7 059 747	5 124 141	4 769 830	-6.91%
Life and health	4 687207	570 751	801 162	179 609	1 131 645	530.06%
Total	5 244 025	8 024 710	7 860 909	5 303 750	5 901 475	11.26%

Exchange rate BHD/USD as at 31/12	2007	2008	2009	2010	2011
	2.61417	2.63019	2.64410	2.64131	2.64403