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Abu Dhabi National Takaful reports solid second quarter 2013 financial results

United Arab Emirates: Monday, August 05 - 2013 @ 12:32

Takaful posted a net profit of Dhs19.9m for period ended 30 June 2013 compared to Dhs11.8m same period last year with a growth of 69%. Also, Takaful posted an underwriting profit for the six months period ended 30 June 2013 of Dhs16.4m compared to Dhs11.3m for the six months period ended 30 June 2012, which reflects a significant growth of 44%. Net Claims Incurred increased by 8% against prior. In addition, Basic and Diluted Earnings per Share grew by 67%.

Commenting on the results, H.E. Khadem Al Qubaisi Chairman of Abu Dhabi National Takaful Company P.S.C, said, “Our results for the first half of 2013 reflect our commitment and strategic approach in handling the current market conditions taking into consideration the fierce competition. Takaful aims to continue to deliver value and profit to its shareholders and policyholders over the short and long term.”

Mr. Osama Abdeen, Chief Executive Officer of Abu Dhabi National Takaful P.S.C, commented, “Over the last three years, Abu Dhabi National Takaful Company PSC continues to achieve a steady profitable growth and I’m pleased to announce our half year 2013 financial results. Takaful posted a net profit of Dhs19.9m compared to Dhs11.8m same period last year with a growth of 69% during the six months period ended 30 June 2013. We have previously indicated that our strategy incorporates a focus on profitability while working on customer service, diversifying our portfolio, products offerings and underwriting discipline. A strategy that brought us great success over the past few years and we intend to maintain, yet further develop it over the future periods. Abu Dhabi National Takaful Company is committed to bring value to our customers and our shareholders.”

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Monday, August 5- 2013 @ 12:32 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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