BIHL rides turbulence as turnover tops P1 billion

BIHL's insurance subsidiary, Botswana Life, raked in P929.4 million in net premiums for the six months ended June 30, 2011 while another subsidiary, Bifm, contributed P62.9 million in fee incomes from assets under its management.

The group's after-tax profits climbed 16 percent to P265.6 million, with higher expenses largely arising from the increase in insurance contracts as seen in the higher costs of claims paid, claims ceded to re-insurers and changes in liabilities to policy holders.