Life provider SABB Takaful has recorded 26.4% increase

Life provider SABB Takaful has recorded a 26.4% increase in net profits before zakat to SAR7.9 million (US$2.1 million) for the first six months of this year, on the back of higher investment income as well as tighter control on operating expenses.Although gross written premium in the first half declined 18.3% to SAR98 million, the company’s bottom line was enhanced by a 23% increase in investment income and a 20% reduction in operating expenses compared to the previous corresponding period.On a quarterly basis, SABB Takaful recorded an 8.5% increase in its second-quarter net profit to SAR5.2 million compared to the same period last year.
Source: eWeekly Takaful