Islamic Finance

Abu Dhabi National Takaful combined profit crosses 100 mln dirhams for first time

Abu Dhabi National Takaful’s combined net profit for policyholders and shareholders before qard hasan provision reached 104.9 million dirhams ($28.56 million) for the full-year 2019, the insurer reported on Tuesday (Feb 18).

This is the first time the takaful company’s combined net profit crossed the 100 million dirhams mark.

Net profits attributed to shareholders was 72.6 million dirhams, up 6.3% from 68.3 million dirhams in 2018.

Gross written contributions rose by 27% to 488 million dirhams last year from 384 million dirhams in 2018.

The company’s underwriting result increased by 23% to 75.1 million dirhams from 60.9 million dirhams in 2018.

The company provides general and family takaful products and services.

($1 = 3.6725 dirhams)

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