Dar Al Takaful swings to net profit in 2016

Dubai:

Dar Al Takaful said on Tuesday it swung into net profit in 2016. The insurance company said it reported a net profit of Dh5 million in 2016 against a net loss of Dh7 million in 2015. Net operating profit rose to Dh32 million from Dh19 million last year.

Total assets rose to Dh444 million in 2016 from Dh324 million in the year before period.

Gross contribution income for the period ended December 2016 was at Dh300 million compared to Dh208 million in the same period of 2015, an increase of 44 per cent.