Bahrain-based oldest Islamic Insurance Company, Takaful International Company achieved proportionate growth in total insurance contributions, which amounted to 5% or BD 17.1m compared to the same period of 2010 which reached to BD 16.2m last year. The total of Takaful revenues rose to BD 8.7m from BD 7.6m as compared to the same period last year. A growth of 19% is reflected in the profits of insurance operations which have increased to BD 3.8m compared to BD 3.2m in the last year, while earnings per share improved by 19% compared to last year.
“The financial results of the company states our ability to deal with all the variables of Bahrain insurance market and adaptability to various indicators of financial market, as well as our constant commitment to providing distinctive services with several innovative insurance products,” Younis Jamal, CEO of Takaful International said.
“The company continues its strategy of expanding beyond the regional level to interact on an international platform to attain better standards in the insurance sector, where we have a keen interest to engage in a number of promising foreign markets in the insurance sector.”
“We are keen to apply the productive plans and expand the development base of insurance services in facilitating all procedures for customers, as recently Takaful International proposed the first e-service in the region in the form of the e-bidding service in order to provide auction service – for salvaged cars and goods- in a simple, convenient and secure means by using the latest modern technology.”
In addition to the service of Takaful Online, which enables customers to inquire and obtain quotations for the various insurance services- motor, travel and home insurance; domestic and marine insurance and other related insurance services.
“In the new year the company hopes to raise the level of insurance services to customers by offering a bouquet of varied insurance products that meet their different needs and offers them a better, safer and stable option.
“By receiving the award of Her Royal Highness Princess Sabeeka bint Ibrahim Al Khalifa for Empowering Bahraini Women, we are honoured to continue to provide the support and empower Bahraini working women to raise the qualification and training to be able to assimilate in the national development plans.”
The Board of Directors approved the financial statements of the Company at their meeting which was held on 12th February, 2012 and will raise the same for approval and adoption at the Annual General Meeting scheduled on 29th February, 2012.
Takaful International founded in 1989, is the first Islamic insurance company in the region, which provides services that suits the Islamic values and meets the modern era requirements.