Takaful Emarat posts $2.7m net profit, up 42pc
DUBAI, February 22, 2016
Takaful Emarat, the DFM-listed, shariah-compliant life and health takaful provider, has posted net profit of Dh10.21 million ($2.7 million) for last year, up 42 per cent, as compared to Dh7.18 million the previous year.
It was attributed to an expansion in the medical and life lines of business, prudent underwriting, and cost efficiency through strict control of general and administrative expenses, said a statement.
The earned contributions increased 216 per cent to Dh377.89 million for 2015 compared to Dh119.40 million in 2014 due to distribution channel growth in both medical and life lines of business, it said.
Wael Al-Sharif, chief executive officer, said: “Our business continues to grow rapidly delivering a strong 2015 full year performance, which is testimony to the success of our new strategy.
"We remain well positioned to accelerate the growth of our business in the years ahead and capitalise on the significant opportunities that exist in our target markets. I look forward to reporting further progress in due course.” - TradeArabia News Service
