Dubai PR Network, Online Press Release from Dubai and Middle East
 
Events and Exhibitions(Events & Exhibitions)
Filter PR by
  
Abu Dhabi National Takaful Co. PSC announces Q1 2017 results with an increase of 12% in Net Profit to AED 20.1 M
 

Abu Dhabi, June 01, 2017 - Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the Middle East region and one of the most progressive insurance companies in the UAE, announced its Q1 2017 results with a net profit of AED 20.1 million, showing an increase of 12% over the net profit of AED 18.1 million for the same period in 2016.

Q1 2017 results are a continuation of the company's strong performance in net profitability over the past 7 years. In 2016, ADNTC’s net profit increased by 16.4 % to AED 48.4 million as compared to AED 41.6 million in 2015. The company attributes its success to excelling across all financial & non-financial indicators with a key focus on sound underwriting discipline, excellent customer service and unique product offerings.

ADNTC's Q1 2017 underwriting profit reached AED 17 million showing an increase of 10% as compared to the underwriting profit of AED 15.4 million that was reported for the same period last year. In addition, the company achieved a technical profit of AED 27 million, showing an increase of 10% compared to the technical profit of AED 24.6 million reported for the same period last year.

Q1 2017 results are a further endorsement of the Financial Strength Rating of A- (Excellent) and an Issuers Credit Rating of “a-” assigned by A.M. Best, which is the highest rating given to any Takaful operator by A.M Best worldwide.

Khamis Buharoon Al Shamsi, Chairman of the Board of Directors, ADNTC, said: “The results of the first quarter of 2017 show a very positive start to the year and a strong indication of the uptrend we aim to maintain throughout 2017. The company reported a net profit of AED 20.1 million, which is 12% higher than the results of Q1 2016. This reinforces the solid foundation we have laid and the success of our strategic business model.”

Osama Abdel Raouf Abdeen, Chief Executive Officer, ADNTC, said, “Our outstanding progress in the region for the past years is clearly reflected in the excellent performance that we have posted for the first quarter of 2017 with underwriting profit going up to 10 per cent from AED 15.4 million to AED 17 million. Our strong and profitable financial performance is a testament to the successful business model we adopt as evidenced in our strategic growth pillars, besides the sound market credibility and financial strength that we continue to enjoy. We remain focused on strengthening the trust of our shareholders and customers while also being fully committed towards providing the best Sharia’a compliant insurance experience with competitive services and benefits to our customers.”

PR Submited on DubaiPRNetwork.com

Posted by : Dubai PR Network Editorial Team
Viewed 2458 times
PR Category : Events & Exhibitions
Posted on : Thursday, June 1, 2017  2:02:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Action-packed Ramadan Night Market unveils new activities ev...
Next Story : Ramadan Night Market opens tomorrow with Thinking Thursday C...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Coty Inc. Introduces James Molloy as Rimmel London's New Global Make-up Ambassador [19197-Views]
AIGNER Iridescence [13383-Views]
Lipstick shades to suit your hair colour from Lipstick Queen [11797-Views]
Top 5 Autumn/Winter Beauty Trends [10584-Views]
LG DUALCOOL Air Conditioner Builds a Tower of Chocolate [10266-Views]
Dune London: The Autumn/Winter17 campaign [7393-Views]
India's famous fashion designer Suneet Varma brings his collections to Dubai [6722-Views]
DS Podium GMT Chronometer: Because time knows no borders [6716-Views]
Corum Heritage Diphylleia - The 'skeleton flower' blooms in a bed of diamonds and gold [6466-Views]
Marks & Spencer Introduce the Autumn/Winter 17 Womenswear Collections [6460-Views]
Jaguar E-type Zero: “The Most Beautiful Electric Car in the World” [6405-Views]
Contour, Highlight and Bronze your Body with Ease with Madame LA LA [6332-Views]
Italian Trade Agency Kicks Off F&B Promotional Activities in the UAE [6320-Views]
Vintage is the rage for new Chronofighter range [5893-Views]
‘Third wave' coffee movement brews big business for Middle East market – forecast to reach... [5667-Views]
CITIZEN CA0641-83E Eco-Drive Chronograph exudes sporty elegance [5392-Views]
Aster DM Healthcare bags Gulf Business Awards-2017 for the “Healthcare Company of the Year... [5100-Views]
Mango Fall/Winter17 - Denim Special [4996-Views]
Bollywood sibling divas come together for the new diamond jewellery commercial of Malabar ... [4978-Views]
Panasonic announces robust plans for Middle East under new leadership [4886-Views]
RTB House celebrates 1-year anniversary in the Middle East and Africa regions with big win... [4874-Views]
Ferrari Portofino: the Italian Grand Tourer par excellence [4874-Views]
Michael Kors Collection Spring 2018 Fashion Show [4850-Views]
CITIZEN opens refurbished boutique at Sharjah City Centre [4673-Views]
Shade of Grey: Sirius Flying Regulator Jumping Hour in sophisticated new colour [4654-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories