Bahrain National Holding BSC

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Bahrain National Holding BSC
Public
IndustryInsurance
Founded1969; 52 years ago (1969)
Headquarterspublic,
Bahrain
Key people
  • Samir I.Al Wazzan (CEO)
  • Farouk Y. Almoayyed (Chairman)
  • Abdul Hussein K. Dawani (Vice Chairman)
ServicesRisk management solution
Number of employees
673
ParentBahrain Insurance Company
Websitebnhgroup.com

The Bahrain National Holding BSC (BNH) is a public holding company based in Manama.[1] Established in 1969, it offers all insurance and risk management solution services.[2] In 1988 the National Insurance Company merged with the Bahrain Insurance Company to become BNH.[3]

Organization

The company is split into three parts: Motor & General Insurance (aviation, engineering, marine, motor and property); Life Insurance and Medical (group credit life, group life, level term assurance, medical products, term assurance decline, and saving scheme plans); Corporate (administrative and fiscal operations services). Bahrain National Insurance Company BSC (c) and Bahrain National Life Assurance Company BSC (c) are company subsidiaries. [4]

History

In May 2020, BNL acquired the remaining 25 percent equity stake in the Bahrain National Life Assurance Company BSC (BNL).[5] The transaction between Al Khaleej Takaful Insurance Company QPSC and BNH rendered BNL the subsidiary’s total owner. In 2008, Farouk Y. Almoayyed was appointed Chairman of the Board and Abdul Hussein K. Dawani Vice Chairman of the Board. In 2014 Samir I.Al Wazzan became CEO.[6] In total there are 673 employees, generating a sales valued at $75.33m.[7]

Recognition

In 2012, BNL received the World Finance Insurance Award,[8] the Global Banking Finance Awards in the Best General Insurance Company of Bahrain category in 2015;[9] Performing Insurance Company – Middle East Life Insurance Award in 2016.[10] In 2017 it received Standard and Poor’s “BBB+” rating along with a stable.[11]

References

  1. "Bahrain National Holding Company ( B.S.C)". www.bahrainbourse.com. Retrieved 2020-06-08.
  2. "Bahrain National Holding (BNH)". www.bibalex.org. Retrieved 2020-06-08.
  3. "Patterns of Success: Structure, Innovation, Transmission" (PDF). bnidirect.com/.
  4. "Bahrain National Life Assurance (bnl) wins the MEIF 2016 Best Performing Insurance Company – Middle East Life Insurance Award | Bahrain National Holding". www.bnhgroup.com. Retrieved 2020-06-08.
  5. "Bahrain National Holding to Acquire Remaining 25% Stake in Bahrain National Life Assurance". Analyzemarkets.com. Retrieved 2020-06-08.
  6. "Commercial Credit Report for Bahrain National Holding Company BSC - Report Preview". info.creditriskmonitor.com. Retrieved 2020-06-08.
  7. "Bahrain National Holding Company BSC: Company Profile". DNB.com.
  8. "Insurance Awards 2012". www.worldfinance.com. Retrieved 2020-06-08.
  9. "GLOBAL BANKING & FINANCE AWARDS® – 2015 – Award Winners". Global Banking & Finance Review. Retrieved 2020-06-08.
  10. "Best Performing Insurance Company Named at Middle East Flagship Forum | Industry Insights". EME Outlook Magazine. Retrieved 2020-06-08.
  11. "A.M. Best Affirms Credit Ratings of The Bahrain National Insurance Company BSC (c)". www.businesswire.com. 2017-11-22. Retrieved 2020-06-08.

External links

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