Bahrain – Mubasher: Al Ahlia Insurance Co., listed on the Bahrain Bourse and the Abu Dhabi Securities Exchange (ADX), has reported a 32.6% drop in its net profit for 2014 to BHD 1.70 million ($4.47840 million) compared to a net profit of BHD 2.516 million ($6.62803 million) in FY13.

Declining net profits are attributed to retreating investment revenues by nearly half owing the difficult circumstances in regional stock markets.

Insurance surged by 43% to BHD 1.215 million against BHD 847.395 thousand in 2013.

Profits for Q4-14 reached BHD 376.961 thousand against a loss of BHD 61.127 thousand in the same period in 2013.

The insurance firm had reported a net profit of BHD 1.3 million ($3.4 million) during the first nine months of 2014 against BHD 2.57 million ($6.77 million) during the corresponding period the year before, recording 49% drop in profits.