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Media Center > News > “WETHAQ" Takaful Insurance Company has achieved strong growth in net investment contributors in year
“WETHAQ" Takaful Insurance Company has achieved strong growth in net investment contributors in year 2010

“WETHAQ” Takaful Insurance Company has been announced that the company achieved an profit for operating and investment as well in the third quarter of this year, this is reflected positively on the company's results in the first three quarters in 2010 compared with the same period of 2009.

In this regard, the General Manager Mr. Majed Yousif Al Ali stated that the losses in the net result of the insurance’ activities has decreased dramatically during the first nine months of this year, compared to same period last year, thanks to what was done by the company's following-up the market situations and circumstances experienced by the insurance sector, which pops up constantly in order to make the proper strategy adjustments to ensure results that accrue to the company's profit and progress.

Al-Ali continued.. that the company has also follow a special tactics and apply attractive policies that work to serve our customers properly, while continuing its commitment to maintain the rights of the Company in light of market’ volatile and unstable conditions, which contributed to the improved company’s earnings per share during the third quarter of this year, where it became a Kuwait Fils 1.68 per share, after that value was Kuwait Fils 28.14 per share-in such period last year.

Al- Ali warned that the ferocity of competition among insurance companies pushes each other not to be reasonable, and maintain the necessary measurements of the reinsurance operations and production manner, pointing at the return to that "WETHAQ" worked to provide models for the high professional by observing those practices and to maintain controls whether to work on reduction of some of them and encourage each others.

On the Financial Results for "WETHAQ" in the Arab Republic of Egypt, Al Ali said the company there is achieved substantial growth in net profits during the first nine months of this year compared to last year, and in light of the recovery in the insurance market in Egypt, especially with the amendments the company got there on the Insurance Act, which strengthened the presence of the company advancing the work and activities and provide services there.

In conclusion, Al-Ali emphasized that "WETHAQ" is determined to continue its successes in reducing losses, and continue to grow upward to profits in the coming years, which falls within the company's goals and priorities, as well as the company's eagerness to continue its strategy of expansion through the presence in the diverse markets, pointing out that the activity of Takaful insurance around the world is the highest growth at the present time, it attracts the attention of new customers who wish to enter as a policies of insurance consistent with the provisions of Islamic Shari’a.