Mubasher: Takaful Oman Insurance on Sunday reported a decline of 21.46% in profits for the first quarter for 2017 on a year-on-year basis.
The company’s profits reached OMR 786,470 ($2.04 million) in Q1-17, compared to OMR 1 million ($2.59 million) in the same period of 2016, according to the company’s statement to the Muscat Securities Market (MSM).
Wakala fees decreased 11.82% to OMR 1.35 million in Q1-17, compared to OMR 1.53 million in the year-ago period.
Takaful Oman had previously said that its profits grew 61.8% reaching OMR 2.75 million in 2016, compared to OMR 1.7 million in the year before.
