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TIC posts net income of $0.81 million at the end of 2016

2017-02-19

According to the financial statements of Al-Takaful Palestinian Insurance Company TIC for the year 2016, Net profit after tax of the period reached 812,974 USD Compared with Net profit after tax 843,738 USD for 2015, a net decrease in profit of 3.65%.Total assets of the company reached 42,424,694 USD compared with total assets of 33,718,251 USD at the end of year 2015, a net increase of 25.82%.Total liabilities of the company reached 30,947,269 USD compared with total liabilities of 23,660,481 USD at the end of year 2015, a net increase of 30.79%. Net ownership equity of the company reached 11,477,425 USD compared with total owner equity of 10,057,770 USD at the end of year 2015, a net increase of 14.12%.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%.