Takaful International Co Bsc 2023 AR2
The report highlights Takaful International Company's voluntary early adoption of the new AAOIFI accounting standards (FAS 30, 42, and 43) from January 1, 2023, making it the first takaful company in the region to do so. Despite intense competition and rising medical claims, the company achieved a total profit of BD 1.513 million, representing a 21% increase from 2022, driven by enhanced net investment income. Additionally, the company formalized its Environmental, Social, and Governance (ESG) Framework and successfully implemented new core technology systems to enhance customer experience. Takaful also maintained its AM Best credit rating of A- (Excellent) and was recognized as a Great Place to Work.
Company: Takaful International Co Bsc
Year: 2023
Type: AR2
Pages: 113
Takaful International Co Bsc
Annual Report
The report highlights Takaful International Company's voluntary early adoption of the new AAOIFI accounting standards (FAS 30, 42, and 43) from January 1, 2023, making it the first takaful company in the region to do so. Despite intense competition and rising medical claims, the company achieved a total profit of BD 1.513 million, representing a 21% increase from 2022, driven by enhanced net investment income. Additionally, the company formalized its Environmental, Social, and Governance (ESG) Framework and successfully implemented new core technology systems to enhance customer experience. Takaful also maintained its AM Best credit rating of A- (Excellent) and was recognized as a Great Place to Work.
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Document Details
Report Year
2023
Reporting Period
Jan 1, 2023 - Dec 31, 2023
Fiscal Year
2023
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
ESG Data?Experimental — AI-extracted data, may contain inaccuracies
Energy Consumption
Water Consumption
Women on Board
Women in Management
Employees