Amana Takaful first half on all time high

Amana Takaful Insurance’s first six months sales showcased continuity of the company’s solid performance with a 41% growth in gross written premiums (GWP) compared to the first half of 2006.

For the first half of 2007 overall GWP reached an all-time high of 412mn, with both General Takaful and Family Takaful showing an equally balanced growth of 41% over the corresponding period of 2006.

The company’s Family/Long Term Takaful fund recorded a 14% increase and total investments of the company rose from 161mn to 509mn, a phenomenal growth of 216% compared to the audited figures of 2006, which reflects the company’s long term presence.

Earlier in the year, Amana Takaful PLC arranged a rights issue, in which the company raised an additional share capital of 375mn, which reflects the confidence of shareholders.

Total Drive, ATI’s motor insurance policy witnessed an escalation of 35% in GWP. The sales growth reflects not only the popularity of ATI’s unique Takaful Insurance concept, but also the fact that every ATI product is comprehensively covered with unique features and ‘built-in’ characteristics with great flexibility exercised in tailor-fitting them to every user.

“The ‘Takaful’ contract is a win-win contract for all participants. It’s a natural choice to anybody who understands its workings” CEO of ATI, Ehsan Zaheed said.

Takaful entered the Sri Lankan market in 1999 through Amana Takaful PLC, and has rapidly entrenched itself. ATI now operates 15 branches in Sri Lanka and one in the Maldives.