MANAMA: On the backdrop of overall strong gains in the insurance sector, Bahrain’s Takaful industry has posted a growth in terms of gross contributions of around 7% to register BD 57.22 million in 2013 compared to BD 53.67 million in 2012.
According to the statistics released by the Central Bank of Bahrain (CBB) gross contributions of Takaful firms represented around 22% of the total gross premiums or contributions in 2013.
“The total assets of Insurance and Takaful firms in 2013 stood at BD 1.698.33 billion compared to BD 1.613.28 billion in 2012, showing an increase of approximately 5%,” the CBB statement added.