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TIC posts net income of $0.31 million in H1 2016

2016-08-28

According to the financial statements of Al-Takaful Palestinian Insurance Company TIC for the first half of 2016, Net profit after tax of the period reached 315,606 USD Compared with Net profit after tax 873,051 USD for 2015, a net decrease in profit of 63.85%.Total assets of the company reached 39,612,763 USD compared with total assets of 33,849,734 USD at the end of year 2015, a net increase of 17.03%.Total liabilities of the company reached 29,419,852 USD compared with total liabilities of 23,189,486 USD at the end of year 2015, a net increase of 26.86%. Net ownership equity of the company reached 10,192,911 USD compared with total owner equity of 10,660,248 USD at the end of year 2015, a net decrease of 4.38%.Noting that paid-in capital increased from 8,500,000 USD in year 2015 to 9,350,000 USD of this year, a net increase of 10.00%.