Amãna Takaful relocates branch in Kurunegala

Monday, 10 June 2013 00:00 - - {{hitsCtrl.values.hits}}

Amãna Takaful PLC (ATPLC), which recently declared its surplus to its non-claimant policy holders, relocated its branch in Kurunegala providing a more spacious, modern and comfortable environment to its customers in the area.

The new branch equipped with state of the art facilities offers customers total insurance solutions be it General or for Life insurance. The branch was ceremonially inaugurated by Gamini Peramunage, Mayor of Kurunegala, along with Fazal Ghaffoor, Chief Executive Officer, Amãna Takaful PLC, in the presence of members of the local business community, customers and staff.

Amãna Takaful PLC has served the people of Kurunegala for the past 11 years, offering both Life (Endowment and Investment) and General (Non-Motor, Medical and Motor) insurance solutions.

“The company’s operations in Kurunegala commenced in 2002, and today we have succeeded in gaining wide acceptance, reaching many households and institutions. I would like to thank the people of Kurunegala for embracing this noble concept of insurance and being a part of our sustained growth, said M.M.M Ashik, Branch Manager of Amãna Takaful PLC.

Recently, Amãna Takaful redefined insurance the Takaful way, by announcing to its General insurance policyholders a payment of surplus, which essentially means Takaful policyholders will receive a proportionate rate from the surplus of the Risk Fund.

As opposed to conventional insurance the Takaful concept not only benefits claimants but also takes care of non-claimants. Non-claimants receive a proportionate share of the surplus from the risk fund at the end of a defined period.

By virtue of being a Takaful policyholder one becomes a participant of the Risk Pool. The Risk pool meets all claims of the membership among other expenses. In the event of a surplus in the Risk Pool, Non-Claimants among the participants are entitled to a proportionate share of the proceeds.

Releasing their interim results in Q1/2013, the company reported that consolidated revenue of Rs. 463.4 m grew by 15% over Q1/2012 with profit before tax of Rs. 22.9 m, an increase of 55% in the same comparison. One of a few ISO certified insurance operators in Sri Lanka; ATPLC now operates in 22 locations with plans of expanding its footprint further.

ATPLC also operates three key strategic business units that specialise in Life, General and Medical Takaful, which is unique in its approach to serve the respective developing customer segments.

Furthermore, by keeping to its tenet of mutuality, the company also offers financial protection through the Takaful concept to the needy of the Sri Lankan populace by providing Navodhaya – ATPLC’s Micro-Takaful (insurance) solution.