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07/03/2018 05:49 AST
National Takaful Company (Watania) posted a net profit of Dh7.6 million for 2017 compared to Dh400,000 in 2016 with return on equity of 9 per cent, the firm said on Tuesday in a statement.
Listed on the Abu Dhabi Securities Exchange, the firm is focused on three main areas of business including motor insurance, medical insurance and general insurance.
"While all three lines of business contributed to the operational profitability the major drivers of the profit were motor and medical. As a portfolio both these products form 85 per cent of our net revenue and we will continue to focus on these product lines," said Ali Saeed Bin Harmel Al Daheri, Chairman of the Board of National Takaful Company.
The company said it is open to exploring opportunities for acquisition if the synergy is right and would launch several initiatives to boost growth this year.
Gulf News
13/08/2017
UAE-based National Takaful Company (Watania) has posted total profits of Dh2.7 million ($735,000) for the second quarter of the year as against a deficit Dh1.5 million a year before, marking a growth
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A.M. Best has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of "bbb-" of National Takaful Company (Watania) PJSC (Watania) (United Arab Emirates). The outlook for b
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Abu Dhabi-listed Islamic insurer National Takaful Co (Watania) said on Tuesday that United Arab Emirates regulators had approved the sale of 60.53 per cent of the firm to MB UAE Investments and an af
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One of the fastest-growing logistics businesses in Mena region, GWC has marked "20 years of excellence and innovation", achieved significant milestones and won prestigious awards, solidifying its pos
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Financial Information Co.