Capital increase for Takaful International

The insurance company Takaful International has proceeded to an increase of its capital from 5 million BHD (13 million USD) to 6.25 million BHD (16.70 million USD). It has also decided to give away shares worth 250 000 BHD (668.360 USD) to its shareholders. Takaful International has posted positive results for the year 2008. The company has reported a growth rate of 53% with written premiums worth 14.022 million BHD (37.487 million USD), while profits have risen by 101%, that is, 449.000 BHD (1.2 million USD). Thanks to the results reported, Standard & Poor's has granted the rating “ BBB” with stable outlook to Takaful International.