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TIC posts net income of $0.79 million in 2013

2014-02-17

According to Al-Takaful Palestinian Insurance Company ( TIC) data for year-end preliminary financial statements for year 2013, net profit after taxes reached 789,228 USD, compared with a net profit after taxes of 932,465 USD in the audited data for 2012, a net decrease of 15.4%. Total assets of the company reached 24,009,748 USD as of December 31^st, 2013, compared to total assets of 19,276,704 USD as of December 31^st, 2012, a net increase of 24.6%. Total liabilities of the company reached 13,511,738 USD as of December 31^st, 2013, compared to total liabilities of 10,136,307 USD as of December 31^st, 2012, a net increase of 33.3%. Net ownership equity of the company reached 10,498,010 USD as of December 31^st, 2013, compared with a net ownership equity of 9,140,397 USD as of December 31^st, 2012, a net increase of 14.9%.