Palestine: Al-Takaful profit increases by 31percent in 3Q
Source: Middle East Insurance Review | Dec 2022
Al- Takaful Insurance Company (Al-Takaful) in Palestine has registered net profit of $1.7m by the end of the third quarter of 2022, a 31.7% increase of the same period of the preceding year, according to a statistic conducted by Al-Iqtisadi news agency.
Net takaful contributions after deducting commissions reached $36m in 3Q2022, up from $29.1m in the corresponding period last year. Net claims paid, on the other hand, increased to $25.6m compared to $20m in 3Q2021, a 27.4% increase.
Al-Takaful started its operations in 2008. There are two takaful providers in the Palestinian insurance market and two new operators are in the process to launch operations in 2023. M