GIG Bahrain Takaful: Q1 2024 results

The Board of Directors of Takaful International Company (GIG Bahrain Takaful) has approved the company's quarterly financial results, published in accordance with Islamic Accounting Standards FAS 42, 43 and 30, equivalent to IFRS 17 and IFRS 9.

As at 31 March 2024, GIG Bahrain Takaful's turnover amounted to 5.89 million BHD (15.6 million USD), against 6.43 million BHD (16.9 million USD) in the same period of 2023, representing an 8% decline.

The net profit reached 546,000 BHD (1.4 million USD), up by 13% compared with the 483 000 BHD (1.3 million USD) recorded in the first quarter of 2023.

The company's total assets and shareholders' equity stood at 44.08 million BHD (116.7 million USD) and 11.79 million BHD (31.2 million USD) respectively.