Abu Dhabi National Takaful reports solid 2013 financial results
Abu Dhabi National Takaful Company P.S.C (Takaful), announced its financial results for the year ended 31 December 2013, reporting a persistent growth in net profits as well as in asset value.
Takaful posted a net profit of Dhs35.2m during 2013, representing a growth of 30% compared to Dhs27.1m during 2012. Also, Takaful posted a technical profit for the year ended in 31 Dec 2013 of Dhs59.8m compared to Dhs55.6m last year, which reflects a significant growth of 7%. Underwriting profit for 2013 increased to Dhs27.5m compared to Dhs26.6m same period last year, representing a growth of 4%.
Gross Takaful contributions for the period amounted to Dhs271.8m, up 31% from Dhs207.8m for the year 2012, while net claims incurred for the period amounted to Dhs32.9m, increased from Dhs20.5m in 2012.
Commenting on the results, H.E. Khadem Al Qubaisi Chairman of Abu Dhabi National Takaful Company P.S.C, said: “Our results for the year end 2013, highlighted by continued growth in profits and shareholder’s equity, lend further credence to the soundness of our measured approach to business.”
Mr. Osama Abdeen, Chief Executive Officer of Abu Dhabi National Takaful P.S.C, commented: “In an extremely competitive and challenging economical environment, we take pride of announcing year end results for 2013. Abu Dhabi National Takaful P.S.C posted a net profit of Dhs35.2m compared to Dhs27.1m same period last year with a growth of 30% by sustaining a well-balanced and diversified portfolio supported by underwriting discipline, customer service, and innovative products which meet our customer needs. Our commitment to provide value to our shareholders and excellent services to our customers will remain our focus going forward.”
Awards & Recognitions of Abu Dhabi National Takaful Co. P.S.C (Takaful):
Abu Dhabi National Takaful Co. PSC has received ‘Takaful Insurer of the Year’ Award at the MENAIR Insurance Awards 2014 held on Wednesday, 15 January 2014, in Dubai, UAE. Also in 2014 Abu Dhabi National Takaful was announced “Middle East Best Bancatakaful Operator” award for the fourth time at the International Takaful Awards 2014 held in Abu Dhabi, UAE.
Abu Dhabi National Takaful Co. PSC received several coveted accolades during 2011-2013. The company 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.
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