Arab Orient Takaful Insurance Posts EGP 4 Mln Profit In FY 2011/12
The Arab Orient Takaful Insurance Company achieved profit of EGP 4 million in FY 2011/2012, said Mohamed Moustafa Abdel Rasoul, CEO of the Company.
The general assembly approved the company’s financial position in FY 2011/2012. The company achieved premiums of EGP 122 million at the end of last June, registering a growth rate of 66%.
The value of compensations under settlement rose to EGP 28 million at the end of last June, from EGP 11 million at the end of June 2011, posting a growth rate of 154%.
The value of the company’s investments surged to EGP 137 million in the last fiscal year, up from EGP 85 million in FY 2010/2011.
It is worth mentioning that the shareholders’ structure of the Arab Orient Takaful Insurance Company is divided as follows: Arab Orient Insurance Company Dubai (60%), National Bank for Development owned by Abu Dhabi Islamic Bank (20%), and Union National Bank (20%).
