Tunisian Insurance Company At-Takafulia Releases 2025 Financial Statements
Key Highlights
- At-Takafulia, now part of Wifak Bank, is the first insurer to publish its 2025 financial statements.
- The company's technical accounts show a life insurance turnover of 29,315 MTND and a surplus of the Takaful family fund of 1,551 MTND, compared to 0,595 MTND the previous year.
Life Insurance Performance
- Since becoming part of a bank, At-Takafulia's life insurance branch has seen improved performance, with issued premiums nearly quintupling in 3 years.
- The majority of premiums come from the Savings segment (27,921 MTND), while the provident segment generated a turnover of 1,393 MTND.
Non-Life Insurance Performance
- In non-life insurance, issued premiums totaled 45,690 MTND, and the surplus of the general Takaful fund stood at 1,332 MTND, compared to 2,405 MTND in 2024.
- The Automobile sector is at the heart of this profitability, with a technical result of 1,141 MTND.
Net Result and Synergies with Wifak Bank
- The 2025 net result rose to 1,596 MTND, representing a 56.2% year-on-year increase.
- The synergies with Wifak Bank are clear, with the bank's agencies serving as sales points for the insurer.
- In return, the bank has offered the insurer profitable investment opportunities in a market where Shariah-compliant investment options are scarce.
- At-Takafulia subscribed to bond loans issued by the bank last year, worth 48 MTND.
Investment and Optimization
- The company has also subscribed to several Istithmar and Izdihar contracts, which have been allocated to various beneficiaries (shareholders, life insurance policyholders, and non-life insurance policyholders).
- It has released 0,980 MTND to Wifak Sicar, allowing for tax optimization and long-term profitability.
- This provides great flexibility in investments in an environment where Shariah-compliant investment opportunities are rare.
