Takaful announces 2021 net profit

Takaful announces 2021 net profit

MANAMA: Takaful International Company has reported net profit attributable to the shareholders of the parent for the three months ended December 31, 2021 of BD227,000 compared with BD564,000 for the same period last year, a decrease of 60 per cent, and a corresponding earnings per share at 2.67 fils compared with 6.63 fils for the same period of 2020.

Total comprehensive income attributable to the shareholders of the parent for the three months ended December 31, 2021 stood at BD177,000 compared with BD589,000 for the same period of 2020 year, a decrease of 70pc.

The company reported a total net profit of BD396,000 for the fourth quarter 2021 compared with BD538,000 for the same period of 2020 with a decrease percentage of 26pc, which is attributed to lower performance of the shareholders’ fund.

The general takaful fund reported a surplus of BD102,000 in the fourth quarter 2021 compared with a deficit of BD46,000 for the same period of 2020.

Family Takaful’s fund performance achieved a surplus of BD68,000 compared with a surplus of BD19,000 for the same period of 2020.

Total gross contributions were BD4.9m in the fourth quarter 2021 compared with BD4.4m for the same period of 2020, an increase of 11pc.

Net earned contributions