Al Takaful Palestinian Insurance
TIC
TIC
Al-Takaful Palestinian Insurance Company (TIC) announced its unaudited interim condensed financial results to the Palestine Exchange (PEX), reporting a surge in net profit after taxes by 451.1% to $1.68 million during the first nine months of 2014, compared to $305.01 THD in the corresponding period of 2013.
TIC’s total assets amounted to $27.34 million as at September 30, 2014, against $23.99 million by December 31, 2013, registering an increase by 13.9%. Total liabilities stood at $17.15 million by September 30, 2014, compared to $13.55 million as at December 31, 2013, adding 26.6%.
The company’s net ownership equity reached $10.19 million as at September 30, 2014, compared to $10.44 million by December 31, 2013, dropping by 2.4% in the first nine months.
It is worth noting that this disclosure included an “initial” approval from the Insurance Directorate Department within the Palestine Capital Markets Authority (PCMA) to disclose “draft” financial information. The Insurance Directorate will issue later a final approval, according to PEX’s official website.
TIC’s total assets amounted to $27.34 million as at September 30, 2014, against $23.99 million by December 31, 2013, registering an increase by 13.9%. Total liabilities stood at $17.15 million by September 30, 2014, compared to $13.55 million as at December 31, 2013, adding 26.6%.
The company’s net ownership equity reached $10.19 million as at September 30, 2014, compared to $10.44 million by December 31, 2013, dropping by 2.4% in the first nine months.
It is worth noting that this disclosure included an “initial” approval from the Insurance Directorate Department within the Palestine Capital Markets Authority (PCMA) to disclose “draft” financial information. The Insurance Directorate will issue later a final approval, according to PEX’s official website.
Source:
Mubasher
