Takaful News - Bahrain: Solidarity General Takaful posts 7% profit growth
Source: Middle East Insurance Review | May 2016
Solidarity General Takaful, a subsidiary of Solidarity Group Holding, has reported a net profit of US$1.5 million last year, a 7% increase from the previous year of $1.4 million.
Gross contributions grew 7% to $39.4 million, the company said in a statement.
Net policyholders’ surplus increased by 44% to $400,000. The policyholders’ fund repaid the Qard Al Hassan back to the shareholders by the end of 2014.
“Solidarity remains focused on diversifying its operations and have made great progress in this regard with the delivery of enhanced insurance products through innovative and creative distribution channels,” said General Manager Jawad Mohammed.