Solidarity Bahrain, one of the largest insurance companies in Bahrain and a subsidiary of Solidarity Group Holding, announced its consolidated financial results for the nine-month period ended September 30, 2025.
In line with applicable accounting standards and reporting requirements, the company has, effective April 1, 2025, consolidated Bahrain National Insurance Company (BNI) and Bahrain National Life Assurance Company (BNL) into its financial statements, with the impact reflected from the second quarter of the year.
The company reported a net profit attributable to shareholders’ funds of BD709,000 for the three-month period ended September 30, 2025, compared to BD1.288 million for the corresponding period in the previous year, representing a 45 per cent decrease.
The earnings per share for the quarter stood at 4.1 fils, compared to 7.5 fils for the same period in 2024.
The total comprehensive income attributable to the shareholders for the three months ended September 30, 2025 decreased to BD698,000, compared to BD1.037 million for the same period in the previous year, representing a decrease of 33pc.
For the nine-month period ended September 30, 2025, the net profit attributable to shareholders’ funds was BD6.677 million, compared to BD3.735m for the corresponding period in 2024, reflecting a 79pc increase.
The earnings per share for the nine-month period was 39.2 fils, up from 21.9 fils in 2024. The total comprehensive income attributable to the shareholders for the nine months ended September 30, 2025 was BD3.333m, compared to BD3.352m for the same period in the previous year, representing a decrease of 1pc.
The total net profit and surplus for the three-month period ended September 30, 2025 was BD894,000, compared to BD1.462m for the same period in 2024, reflecting a 39pc decrease.
The total net profit and surplus for the nine-month period ended September 30, 2025 was BD7.040m, compared to BD4.517m for the same period in 2024, representing a 56pc increase, primarily driven by the consolidation of BNI and BNL results, as well as gains recognised from the reclassification of a financial investment as an investment in an associate as part of the consolidation adjustments.
Total equity attributable to shareholders as of September 30, 2025 stood at BD53.290m, compared to BD39.511m as of December 31, 2024, reflecting a 35pc increase.
Total assets reached BD208.342m, compared to BD108.177m at the end of 2024, marking an 93pc increase, mainly due to the consolidation of BNI and BNL.
The policyholders’ fund reported a net profit of BD185,000 for the three-month period ended September 30, 2025, compared to a surplus of BD174,000 in the same period of 2024, representing an increase of 6pc. For the nine-month period, a net surplus of BD363,000 was recorded, compared to BD782,000 in 2024, reflecting a 54pc decrease.
Recognised takaful contributions for the three-month period ended September 30, 2025 stood at BD26.837m, compared to BD16.092m in the same period of 2024, marking a 67pc increase.
For the nine-month period, contributions were BD67.299m, up from BD43.151m, reflecting a 56pc increase.
Commenting on the company’s performance, Solidarity Bahrain chairman Shaikh Khalid bin Mustahail Al Mashani said: “The board of directors expresses its sincere appreciation for Solidarity Bahrain’s strong operational performance during the third quarter of the year. The company achieved notable growth in both revenue and profit, primarily driven by the successful consolidation and integration of Bahrain National Insurance (BNI) and Bahrain National Life (BNL).”
He added: “These strategic milestones mark the beginning of a new and ambitious chapter in our journey of expansion, growth, and excellence across all areas of our operations.”
On his end, Solidarity Bahrain chief executive officer Jawad Mohammed added: “The strong results achieved in the third quarter of 2025 reflect the strategic success of our consolidation efforts.
“These initiatives have enhanced our ability to deliver integrated and innovative insurance solutions, elevate the customer experience, and reinforce our leadership position within the Bahraini market.”
He concluded: “Looking ahead, Solidarity will remain at the forefront of continuous expansion within Bahrain and beyond. By investing in and leveraging growth opportunities, we are building a full-fledged insurance ecosystem that supports sustainable growth in the kingdom and delivers enduring value to our shareholders, customers, and partners.”
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