Wethaq Takaful Insurance’s ordinary general meeting agreed on distributing no dividends for the fiscal year ended 31 December, 2014.

Standard & Poor’s promoted the company’s status when it affirmed Wethaq at ‘BB’ with a stable outlook in December 2014, said Wethaq Chairman Abdullah Youssef Al-Saif.

“Wethaq achieved a growth of 13.9% in its operating profits, posting KWD 1.48 million in 2014 compared to KWD 1.29 million in 2013,” the chairman noted, adding “Total expenses reached soared by 4.9% to KWD 1.54 million in 2014 from KWD 1.47 million in 2013.”

“Wethaq Egypt achieved a surge of 83% in its net profits of Q3-2014, posting EGP 2.5 million compared to EGP 1.3 million in 2013,” concluded Al-Saif.

Wethaq’s capital stands at KWD 55.12 million, distributed on 551.2 million shares with a par value of 100 fils per share.