Bahrain: Takaful posts net profit for Q1 2025

Zawya

13-05-2025

Bahrain - Takaful International Company has reported net profit of the shareholders before tax of BD481,000 for the three months ended March 31, 2025, a 22 per cent increase from the net profit of BD393,000 for the same period in the previous year.
The net profit of the shareholders after tax was BD422,000 for the three months period compared with a net profit of BD393,000 for the same period in the previous year.
Comparatively, earnings per share for Q1 2025 increased to 4.96 fils from 4.62 fils for the same period in the previous year.
The comprehensive income for the three-month period was BD442,000, an increase of 28pc compared to BD345,000 for the same period in the previous year.
The company reported a total net profit before tax of BD639,000 during the first quarter of the year 2025 compared to BD546,000 for the same period in the previous year, an increase of 17pc.
The improved performance of the company is attributed to the increase in the income from investments and insurance operations during the quarter.
The shareholders' fund achieved a profit before tax of BD481,000 during the first quarter of the year 2025, compared to a profit of BD393,000 for the same period of the previous year, an increase of 22pc.
The takaful funds achieved a surplus before tax of BD158,000 during the first quarter of 2025, compared to a surplus of BD153,000 for the same period of the previous year, an increase of 3pc.
Recognised takaful contributions were BD6.84m for the first quarter 2025, compared to BD5.89m for the same period of the previous year, an increase of 16pc.
Recognised takaful costs were BD5.73m during the first quarter 2025, compared to BD4.71m in the same period of the previous year, an increase of 22pc.
The company's shareholders equity amounted to BD12.06m as of March 31, 2025, compared to BD12.68m as of end-2024, a decrease of 5pc.
The company's total assets increased by 6pc from BD43.83m as of end-2024 to BD46.62m as of March 31, 2025.
Commenting on the results, chairman Ebrahim Al Rayes stated that the company delivered satisfactory results in both Takaful operations and investments.
'This positive performance is a result of the continued focus on enhancing operational efficiency, improving insurance products and services, as well as prudent risk management,' he added.
'On the other hand, the performance of the investment portfolio played a pivotal role in supporting the financial results, as the company succeeded in generating good investment returns by following a balanced investment strategy that emphasises diversification and avoiding high-risk investments, with a particular focus on sustainable growth opportunities. In conclusion, we express our deep appreciation for the trust placed in us by our shareholders and clients, and for our outstanding team, which remains the cornerstone of our success.'
For his part, the company's chief executive Essam Al Ansari affirmed that the company achieved strong financial results with a growth in insurance contributions of 16pc and maintained its good investment performance during the period ending March 31, 2025.
'Moreover, our strategic partnerships – most notably our collaboration with Zain Bahrain – have been a key driver in expanding the scope of our insurance services and reaching new customer segments through innovative solutions and effective digital channels.
'As part of our forward-looking commitment, the company continues to invest in enhancing its digital capabilities and fostering innovation in product and service delivery, ensuring agility in responding to market changes and customer expectations, while maintaining a strong financial solvency that meets the insurance operations requirements and reinforces shareholder confidence. The company also remains committed to its social responsibility through sustainable community initiatives aligned with its integrated vision for responsible growth and positive impact.'