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TIC posts net income of $0.66 million in 9M 2016

2016-11-03

According to the financial statements of Al-Takaful Insurance Company TIC for the first nine months of 2016, Net profit after tax of the period reached 657,788 USD Compared with Net profit after tax 1,233,517 USD for 2015, a net decrease in profit of 46.67%.Total assets of the company reached 43,435,124 USD compared with total assets of 33,686,479 USD at the end of year 2015, a net increase of 28.94%.Total liabilities of the company reached 31,471,776 USD compared with total liabilities of 23,049,153 USD at the end of year 2015, a net increase of 36.54%. Net ownership equity of the company reached 11,963,348 USD compared with total owner equity of 10,637,326 USD at the end of year 2015, a net increase of 12.47%.Noting that paid-in capital increased from 8,500,000 USD in year 2015 to 9,350,000 USD of this year,a net increase of 10.00%.