MANAMA, 26 July 2007 — Bahrain-based Arab Insurance Group (Arig) has announced a net profit of $18.6 million for the first half of 2007, a 115 percent increase on the same period last year. Gross premiums grew by 23 percent, buoyed by significant new business growth from the Far East and Sub-Saharan Africa. Shareholder’s equity as of 30 June was $288.7 million after dividend distribution of $22 million for 2006. The book value per share was $1.35.