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Abu Dhabi National Takaful Company reports first quarter 2014 financial results

: Tuesday, May 13 - 2014 @ 12:05

Abu Dhabi National Takaful Company P.S.C (“TAKAFUL”), the leading operator in the insurance industry of the United Arab Emirates and the Middle East, announced today its financial results for the period ended 31 March 2014, reporting a continued growth in net profit.

(“TAKAFUL”) posted a profit for the period ended 31 March 2014 of AED 10.3 million compared to AED 9.9 million for the period ended 31 March 2013, which reflects a growth of 4%. In addition, Takaful realised an underwriting profit of AED 8.6 million for the period ended 31 March 2014 compared to AED 8.8 million for the period ended 31 March 2013.

Commenting on the results, H.E. Khadem Al Qubaisi Chairman of Abu Dhabi National Takaful Company P.S.C (“TAKAFUL”) said, “Takaful has achieved good results for the first quarter of 2014 by executing its successful strategy in underwriting business and evaluating risks”.

Mr. Osama Abdeen, Chief Executive Officer of Abu Dhabi National Takaful P.S.C(“TAKAFUL”) commented, “We are pleased to release “Takaful” financial results for the first quarter of 2014. Abu Dhabi National Takaful Company P.S.C (“Takaful”) realized a profit of AED 10.3 million compared to AED 9.9 million for the corresponding period of 2013. This has been accomplished by executing our strategy, diversification of our portfolio mix and implementing sound underwriting policy. Speaking of which, and despite the continuous drop in market technical rates, we have maintained an underwriting profit of AED 8.6 million for the period ended 31 March 2014 compared to AED 8.8 million for the period ended 31 March 2013. Our successful performance is an outcome of the trust of our shareholders and customers in the United Arab Emirates and our commitment to provide to our customers the best Sharia’a compliant insurance experience with competitive services and benefits”.

Awards & Recognitions of Abu Dhabi National Takaful Co. P.S.C (“TAKAFUL”):

• Abu Dhabi National Takaful received ‘Takaful Insurer of the Year’ award at the MENAIR Insurance Awards 2014 held on Wednesday, 15 January 2014, in Dubai, UAE.
• Abu Dhabi National Takaful Co. PSC was announced the ‘Middle East Best Bancatakaful Operator’ at the International Takaful Awards 2014 that were presented during the International Takaful Summit 2014 held on 25-26 February, 2014 in Abu Dhabi, UAE.
• It also received the ‘Takaful Operator of the Year 2013’ award for the Middle East region for the second time and in successive years at the prestigious INSUREX Conference & Awards 2013 held on Wednesday, 02 October 2013, in Dubai, UAE. It was recognized amongst the ‘The Top 500 Companies in the Arab World’ and listed amongst the top 100 companies in the UAE by the Forbes Middle East during a prestigious awards gala dinner under the patronage of H.E Sheikh Nahayan Mabarak Al Nahayan Minister for Culture, Youth & Community Development, held in Abu Dhabi, UAE on Tuesday, 14 May 2013.

• During 2012, Abu Dhabi National Takaful Co. PSC was honoured amongst the best insurance companies in the Middle East region having one of the ‘Top Executive Management in the Arab World 2012’ within the insurance sector by Forbes Middle East. Earlier in 2012, the company was named as the ‘Best Bancatakaful Operator Middle East’ at the International Takaful Summit 2012 held in London, UK, after it won the same award at the Takaful Leadership Awards 2011 held in London, UK.

For more information, please contact:
Sara Al Absi
Media and PR Officer – CEO Office
Abu Dhabi National Takaful Company P.S.C
Tel: +971410 77 01
Fax: +971410 77 10

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Tuesday, May 13- 2014 @ 12:05 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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