Takaful News - Tunisia: Zitouna Takaful turns operations around in 2015
Source: Middle East Insurance Review | Jul 2016
Zitouna Takaful, the first Islamic insurer in Tunisia, has reported a net profit of TND1.05 million (US$501,400) for the year ended 31 December against a net loss of TND2.76 million in 2014.
In 2015, the turnover of the company grew by 42% to TND28 million against TND19.6 million in 2014. Family takaful accounted for 21% of overall turnover last year.
Claims paid reached TND5.6 million for 2015, and technical reserves amounted to TND31.9 million at 31 December last year.
The company made an underwriting profit last year compared to losses in 2014. Investments helped buoy net profits last year.
TND1 = US$0.46