Wethaq Takaful Insurance Company posted premiums of EGP 77.4 million in FY 2011/2012, down from EGP 91.5 million, with a decrease of 15%. In addition, compensations claims fell by 5% as the Company paid compensations of EGP 51.5 million in FY 2011/2012, down from 54.5 million.
The Company’s volume of investments rose to EGP 172.9 million in the last fiscal year, up from EGP 164.8 million, with an increase of 5%. The value of the Company’s assets grew by 11%, registering EGP 198.3 million, up from EGP 178.1 million.
The policyholder equity rose to EGP 124 million from EGP 115.7 million with an increase of 7% and with-profits equity surged to EGP 57.3 million from EGP 45.7 million with an increase of 25%.
The insurance surplus declined by 6%, registering EGP 11.2 million, down from 11.9 million. The Company’s capital reached EGP 50 million, up from EGP 40 million, with an increase of 40%.
