Aljazira Takaful has no plans to raise capital or issue Islamic bonds (sukuk), chief executive officer Saqr Nadir Shah told CNBC Arabiya television.

 

Written premiums grew 312 percent in the first half this year, and 198 percent in the second quarter, compared to the same periods last year, he added.

 

The company's net income from insurance operations amounted to SAR 5.5 million in the first three months after it was 871,000 riyals in the same period from last year, he added.

 

Aljazira posted first half profit of SAR 8 million before zakat, compared with the SAR 3.7 million from the same period last year.

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