Abu Dhabi’s National Takaful buys 4.9% stake in Dubai’s Dar Al Takaful
National Takaful Company (Watania) has acquired 4.9% in Dar Al Takaful, the company said in a bourse filing on Wednesday (May 27).
The Abu Dhabi Securities Exchange-listed Watania said the purchase is expected to generate investment income by way of capital appreciation and dividends in the future.
Dar Al Takaful is listed on the Dubai Financial Markets. In the first quarter of 2020 the Islamic insurer reported a loss of 7.42 million dirhams ($2.02 million), compared to a greater deficit of 12.12 million dirhams for the same three months in 2019.
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