The Takaful International Company held its Ordinary General Assembly meeting yesterday at the company’s headquarters located in the Seef area. The meeting came with a legal quorum of 88.11%, in the presence of representatives of the concerned regulatory authorities. At the meeting, the General Assembly approved the company’s financial results for the year ending on December 31, 2022, as it approved the company’s total profits amounting to BD 1.703 million compared to a total profit of BD 1.603 million in 2022, an increase of 6%, and the net profit of shareholders amounting to BD 1.002 million. Dinars, compared to a net profit of 931,000 dinars in 2021. Earnings per share reached 11.79 fils compared to 10.95 fils in the previous year.
The General Assembly of the company also approved distributing cash dividends to shareholders registered in the company’s records on the maturity date, at 5% of the paid-up capital, equivalent to 5 fils per share, with a total value of 425 thousand dinars.
Chairman of the Board Ibrahim Al-Rayes said that despite the large economic fluctuations during 2022 AD, the total written subscriptions of the company rose to 24.920 million dinars compared to 22.806 million dinars for the previous year, adding that the company was able to achieve good income for shareholders and raised the accumulated surplus of the campaign’s portfolio. documents, which was achieved thanks to the strategies adopted by the Board of Directors in saving costs, raising productivity, prudent underwriting policy and the efforts of the work team. The joint work with the parent company in some service and support departments also had a positive impact on the good performance achieved, adding that the company maintained its credit rating at (A-) excellent from the international rating agency AM Best.
For his part, Issam Al-Ansari, CEO of the company, said that the results reflect the company’s ability to adapt to the various conditions in the insurance market, adding that the company has taken an important step in the digital transformation plan, as the new automated system will be launched during the next week, which will have an important role in providing A different insurance service that guarantees smoothness and high efficiency in all insurance operations. The fiscal year 2022 was a year full of important achievements and transformations for the company, as the company’s application was re-launched with new updates and additions. The company also won the award for the best work environment from the International Work Culture Authority for the year 2022 AD.
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