Solidarity Bahrain Strengthens Market Position with BD2.339 Million Profit in Q1 2026
Bahrain – Solidarity Bahrain, a leading insurance provider and a subsidiary of Solidarity Group Holding, has reported its financial results for the quarter ending March 31, 2026. The company has successfully integrated Bahrain National Insurance Company (BNI) and Bahrain National Life Assurance Company (BNL) into its operations, marking a significant strategic achievement.
Merger Enhances Operational Efficiency
The merger with BNI and BNL has bolstered Solidarity Bahrain’s operational scale and efficiency. This integration has not only strengthened the company’s market position but has also expanded its customer base, contributing positively to its financial performance in the first quarter of 2026.
For the three-month period ending March 31, Solidarity Bahrain reported a net profit attributable to shareholders of BD1.833 million, a notable increase from BD1.258 million during the same period last year, reflecting a 46% growth. Earnings per share rose to 10.79 fils, compared to 7.4 fils in 2025.
Comprehensive Income and Net Profit Growth
The total comprehensive income attributable to shareholders for the first quarter of 2026 reached BD2.203 million, up from BD1.307 million in the previous year, representing a 69% increase. The total net profit and surplus for the quarter stood at BD2.339 million, compared to BD1.587 million in the same quarter of 2025, marking a 47% rise. This increase is primarily attributed to the financial results from BNI and BNL, as the previous year’s figures reflect a pre-merger scenario.
Equity and Asset Overview
As of March 31, 2026, total equity attributable to shareholders was BD51.395 million, down from BD54.666 million at the end of 2025, indicating a 6% decrease. Total assets also saw a decline, standing at BD185.354 million compared to BD208.261 million at the end of the previous year, representing an 11% decrease.
The policyholders’ fund reported a net surplus of BD506,000 for the quarter, an increase from BD329,000 during the same period in 2025, showcasing a 54% improvement. Recognised Takaful contributions for the quarter amounted to BD26.961 million, a significant rise from BD13.654 million in the same period last year, indicating a 97% increase.
Leadership Insights on Growth and Stability
Shaikh Khalid bin Mustahail Al Mashani, Chairman of Solidarity Bahrain, expressed gratitude for the ongoing support to Bahrain’s insurance sector under the leadership of His Majesty King Hamad and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister. He emphasized that this support has been crucial in creating a stable environment conducive to sustainable growth.
He noted that the increase in net profit and surplus reflects the resilience of the business and the strategic direction set by the board. The management is committed to sustainable growth and long-term value creation for stakeholders, looking forward to future opportunities in Bahrain.
Jawad Mohammed, Chief Executive Officer of Solidarity Bahrain, highlighted the strength and stability of Bahrain’s insurance sector as a vital component of the national economy. He acknowledged the Central Bank of Bahrain’s role in enhancing the financial sector’s resilience, enabling it to navigate recent challenges.
Mohammed stated that the company has made a strong start to the year, with a 47% increase in net profit and surplus compared to the same quarter last year. He attributed this performance to effective operational execution and a focus on improving customer experience and service quality. He also commended the team for their contributions during this period, which have been essential in addressing challenges and supporting the company’s objectives.
Source: www.zawya.com
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Published on 2026-05-12 10:25:00 • By the Editorial Desk
