4 days ago
Takaful International reports 10% increase in Q2 net profit
Bahrain - The board of directors of Takaful International Company has approved the financial results for the period ended June 30, 2025.
The net profit attributable to the shareholders after tax was BD178,000 for the three months ending on June 30, 2025, compared with a net profit of BD162,000 for the same period in the previous year, an increase of 10 per cent.
Comparatively, earnings per share increased to 2.1 fils from 1.9 fils for the same period in the previous year.
Total comprehensive income attributable to the shareholders of the company for the three months ended June 30, 2025 surged to BD149,000 compared to BD79,000 for the same period in the previous year, an increase of 89pc.
The company reported a total net profit before tax of BD232,000 during the second quarter of the year 2025 compared to BD211,000 for the same period in the previous year, with an increase of 10pc.
The shareholders' fund achieved a profit before tax of BD201,000 during the second quarter of the year 2025, compared to a profit of BD162,000 for the same period of the previous year, an increase of 24pc.
This increase is mainly attributed to the increase in the income from investments during the period. The takaful funds achieved a surplus before tax of BD31,000 during the second quarter of 2025, compared to a surplus of BD49,000 for the same period of the previous year, a decrease of 37pc.
This decline in the performance of the takaful funds is mainly due to an increase in the claims reserve during the period compared to the corresponding period of the previous year.
Recognised takaful contributions were BD7.306 million for the three months period ending on June 30, 2025, compared to BD6.425m for the same period of the previous year, an increase of 14pc.
Recognised takaful costs were BD6.185m during the three months period ending on June 30, 2025 compared to BD5.195m in the same period of the previous year, with an increase of 19pc.
The net profit attributable to the shareholders after tax was BD600,000 for the six months ending on June 30, 2025, compared with a net profit of BD555,000 for the same period in the previous year, an increase of 8pc.
Comparatively, earnings per share increased to 7.07 fils from 6.52 fils for the same period in the previous year.
The comprehensive income attributable to the shareholders of the company for the sixmonth period ending on June 30, 2025, was BD592,000, compared to a profit of BD424,000 for the same period of the previous year, an increase of 40pc.
The company reported a total net profit before tax of BD870,000 during the six months ending on June 30, 2025 compared to BD757,000 for the same period of the previous year, with an increase of 15pc.
The shareholders' fund achieved a profit before tax of BD681,000 during the six months ending on June 30, 2025, compared to a profit of BD555,000 for the same period of the previous year, an increase of 23pc.
The takaful funds achieved a surplus before tax of BD189,000 during the six months ending on June 30, 2025, compared to a surplus of BD202,000 for the same period of the previous year, a decrease of 6pc.
Recognised takaful contributions were BD14.146m for the six months ending on June 30, 2025, compared to BD12.314m for the same period of the previous year, an increase of 15pc.
Recognised takaful costs were BD11.912m during the six months period ending on June 30, 2025, compared to BD9.905m in the same period of the previous year, with an increase of 20pc.
The company's shareholders equity amounted to BD12.190m as of June 30, 2025, compared to BD12.680m as of December 31, 2024, a decrease of 4pc.
The company's total assets increased by 8pc to BD47.516m as of June 30, 2025, compared to BD43.833m as of December 31, 2024.
Chairman Ebrahim Alrayes remarked on the company's financial results, highlighting the good performance across both takaful operations and investment activities.
He attributed this performance to the company's ongoing efforts to streamline operations, enhance the quality of its insurance offerings, and apply rigorous risk controls.
He further noted that the investment portfolio delivered strong support to overall results, driven by a carefully balanced strategy that prioritises diversification, financial discipline, and sustainable growth, while steering clear of excessive risk.
He concluded by expressing appreciation to shareholders and clients for their confidence, and to the company's dedicated team, whose commitment continues to drive success.
The company's chief executive Essam Al Ansari expressed his satisfaction with the performance for the period, reaffirming that this reflects the strength of the business model and customer-focused strategy.
He emphasised that the company continues to strive to provide innovative and effective insurance solutions that meet the evolving needs of its customers.
Mr Al Ansari also highlighted the company's commitment to its takaful principles, noting the successful organisation of several ESG initiatives, along with partnerships with local charities.
In line with the takaful concept, Mr Al Ansari referenced the recently announced surplus distribution, marking a significant milestone as the first takaful company in Bahrain to implement this initiative - reinforcing its role as a pioneer in delivering value to policyholders and promoting the mutual benefits at the heart of the takaful system.
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