Bahrain: Takaful International net profit for shareholders touches $1.5m for 1H2024
Source: Middle East Insurance Review | Sep 2024
Takaful International Company (Takaful International) announced that shareholders’ net profit reached BHD555,000 ($1.48m) for 1H2024 against BHD428,000 for the same period in the previous year, a 30% increase. Comparatively, earnings per share increased to 6.52 fils from 5.04 fils for the same period in the previous year. The comprehensive income attributable to the shareholders of the company for 1H2024, was BHD 424,000, compared to BHD303,000 for the same period of the previous year, an increase of 40%.
Takaful International reported a total net profit of BHD757,000 during the first six months of 2024 compared to BHD651,000 for the same period of the previous year, an increase of 16%.
Recognised takaful contributions reached BHD12.314m in 1H2024, against BHD12.282m for the same period of the previous year, a slight increase of 0.3%. Recognised takaful costs were BHD9.905m during the first half of 2024, compared to BHD9.74m in the corresponding period of the previous year, an increase of 2%.
The company’s shareholders equity amounted to BHD11.873m as of 30 June 2024, compared to BHD12.086m as of December 2023, a decrease of 2%, mainly due to the distribution of dividends. Total assets have slightly increased by 1% to BHD42m as of 30 June 2024, compared to BHD41.59m as of December 2023. M