Amana Takaful profit declines

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Amana Takaful PLC (ATPLC), in their annual report released recently, noted that the group has been able to earn a profit after tax (PAT) of Rs. 222 million, which is a decline in comparison to the PAT recorded in 2019, which was Rs. 277 million.

On the contrary, total assets of the group have grown by 7.19% as they reached Rs. 7.1 billion while in 2019, the group reached Rs. 6.6 billion.

The Chairman, Osman Kassim, said that they concluded yet another “tumultuous year in Sri Lanka’s history” following the Easter Sunday attacks in 2019.

The Chairman of Amana said the Amana Takaful Group has reported a gross written premium (GWP) of Rs. 4.14 billion in the year 2020. He said that it is a lower figure in comparison to the Rs. 4.2 billion achieved in 2019. However, it is necessary to be viewed within the context of the “drastic economic meltdown triggered by the pandemic”.

With regard to the future outlook, the ATPLC Chairman said: “ATPLC is confident of facing the uncertainties of tomorrow. Thus, there will be a higher focus on the digitalisation of the entity’s external processes in order to ensure customer convenience,” he said.

Amana Takaful provides general, motor, and medical products according to the portfolio that the company has presented in their annual report.

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