The Management of Al Madina Insurance Company SAOG is pleased to announce the preliminary unaudited financial results of the company for the period ended 30th June 2015.

Following are the highlights of the results (in OMR):

Item

Shareholders

General Takaful

Family Takaful

Consolidated

30-Jun-15

Gross Contributions

                      -  

          12,595,078

            978,794

         13,573,872

Net Retained Contributions

                      -  

            7,079,912

            251,385

           7,331,297

Net Earned Contributions

                      -  

            6,402,646

            386,909

           6,789,555

Net Claims Incurred

                      -  

           (4,297,677)

            (11,357)

          (4,309,034)

Surplus from Takaful Operations before Wakala Fees

                      -  

            1,933,666

            326,364

           2,260,030

Investment Income

             760,078

                 48,701

                   243

              923,022

Wakala Fees

          2,714,775

           (2,519,016)

          (195,759)

                        -  

Mudharib Fee

               34,261

                (34,091)

                 (170)

                        -  

Net Profit before tax

1,485,221 

 (570,740)

130,678 

1,045,159 

Provision for tax

           (68,750)

(68,750) 

Net Profit and Surplus for the year ( afterTax)

          1,416,471

              (570,740)

            130,678

           976,409

Item

Shareholders

General Takaful

Family Takaful

Consolidated

30-Jun-14

Gross Contributions

                      -  

          11,092,694

            654,377

         11,747,071

Net Retained Contributions

                      -  

            5,901,128

            213,605

           6,114,733

Net Earned Contributions

                      -  

            5,223,923

            148,464

           5,372,387

Net Claims Incurred

                      -  

           (2,821,477)

            (61,633)

          (2,883,110)

Surplus from Takaful Operations before Wakala Fees

                      -  

            2,219,319

              43,510

           2,262,829

Investment Income

             377,166

                 43,256

                      -  

              420,422

Wakala Fees

          2,349,414

           (2,218,539)

          (130,875)

                        -  

Mudharib Fee

               32,442

                (32,442)

                      -  

                        -  

Net Profit before tax

Provision for tax

Net Profit and Surplus for the year ( afterTax)

             803,571

                 11,594

            (87,365)

              727,800