Pak-Qatar Takaful Group achieves net-profit of Rs. 84.7 million
Lahore, May 09, 2016 (PPI-OT):The Pak Qatar Takaful Group recently held its Board Meeting, to review the group’s performance and the strategy for the year 2016. Pak-Qatar Takaful Group, which comprises Pak-Qatar Family Takaful and Pak-Qatar General Takaful, has posted a net profit of Rs.84.7 million in 2015. At the same time, Participant Takaful Fund generated the net consolidated surplus of Rs.196 million.
The financial statements of both companies were reviewed and approved during the Board meeting held at the head office of Qatar International Islamic Bank, in Doha. The meeting was chaired by the Chairman of Pak-Qatar Takaful Group – H.E. Sheikh Ali Abdullah Al Thani. Other participants of the board meeting included; Mr. Abdul Basit Ahmed Al-Shaibei, Mr. Zahid Hussein Awan, Mr. Ali Ibrahim Al Abdul Ghani, Mr. Muhammad Ashraf, The Managing Director of Pak-Qatar Takaful Group – Mr. Said Gul, Mr. Owais Ansari and the group’s CFO and Company Secretary – Mr. Muhammad Kamran Saleem.
The Chairman of Pak-Qatar Takaful Group – Sheikh Ali Abdullah Al-Thani praised the group’s “remarkable performance” in 2015, and stated that; “The participants of the board meeting have appreciated that Pak-Qatar Takaful Group has registered “an immense growth” during the preceding year, with an aggregate turnover of 7.4 billion Rupees.
Mr. Muhammad Kamran Saleem, the group CFO and Company Secretary discussed about the trust that has been placed by its customers upon the group’s capacity to meet its obligations, evident by the increasing contribution base, an improvement in overall persistency of renewal contributions under Individual Life business segment of Pak-Qatar Family which increased to 82 percent during 2015 (2014: 77 percent), portraying the unstinted faith of the policyholders.
He further said, “During 2015, the Insurer Financial Strength (IFS) ratings of both companies were also reaffirmed by the respective credit rating agencies at “A” (Single A), assuring policyholders of the strong capacity of the group to meet all contractual obligations.” Mr. Saleem concluded that Pak-Qatar Takaful Group will continue to serve its valuable customers with quality products and services in future.
For more information, contact:
Mr. Syed Adnan Hasan,
Pak-Qatar Family Takaful Limited