Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Others)
Filter PR by
  
Abu Dhabi National Takaful Co. PSC Announces a Combined Net Profit of AED 26.9 million in Q1 2018 Achieving 34% Growth in Profitability
 

Abu Dhabi: Thursday, 10 May 2018: Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the region and one of the most progressive insurers in the UAE, has released its financial results for the first quarter of 2018 ending on 31 March 2018, announcing a combined net profit of AED 26.9 million (for policyholders & shareholders before Qard Hasan provision) achieving a growth of 34% compared to AED 20.1 million for the same period last year. 

The technical profit reached AED 33.5 million showing an increase of 24 % compared to AED 27 and the underwriting profit reached AED 23.5 million showing an increase of 39% compared to AED 17 million for the same period last year. 

ADNTC is off to a solid start in 2018 with an upward trajectory in its increasing combined net profitability. In 2017, the company’s combined net profit reached AED 64.6 million showing an impressive increase of 35% compared to AED 48.4 million for the year 2016. 

With significant performance improvement across all financial & non-financial indicators, the company continues to focus on maintaining solid underwriting discipline, providing outstanding customer service and offering innovative products & services. 

ADNTC’s consistent performance is further endorsed with a Financial Strength Rating of A- (Excellent) and an Issuers Credit Rating of “a-” assigned to it by A.M. Best. This 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: “ADNTC is off to a solid start in 2018, laying the groundwork for an even better performance for the rest of the year. Looking at our sound business model and strategic development plans, we are confident that we will maintain sustainability in our performance to reach new levels of growth supported by our enhanced products & services.” 

Osama Abdel Raouf Abdeen, Chief Executive Officer, ADNTC, said, “In insurance industry, ADNTC continues to make headway as evidenced by our consistent outstanding financial performance year after year. Our underwriting profit of AED 23.5 million posted for the first three months of 2018 is an indication of our credibility as the leading takaful operator in the region and our steady excellent financial standing. To sustain our lead, rest assured that we will remain committed to addressing the needs of our customers by offering the most viable Sharia’a compliant insurance experience.”

In 2017, ADNTC was recognized as the ‘Takaful Company of the Year’ at the 4th Middle East Insurance Industry Awards (MIIA) for its continued excellent performance. 


Posted by : Dubai PR Network Editorial Team
Viewed 7808 times
PR Category : Others
Posted on : Sunday, May 13, 2018  8:02:00 AM 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 : DSI Enhances Net Profit in Q1 2018
Next Story : New MEFMA report forecasts FM industry revenues in the GCC t...
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
The Rado HyperChrome Ultra Light [12895-Views]
Chronoswiss Shows Off Twin Limited Edition Flying Grand Regulators [12371-Views]
212 VIP Extra Limited Edition [11901-Views]
Innovative, Adventurous and Accurate. It's what pilots need in a timepiece. And Hamilton a... [11694-Views]
The Valentine watch collection by Coach [11047-Views]
NuFACE launches in Bloomingdales and Harvey Nichols! [9229-Views]
Lenovo announces Lenovo Truscale™ Infrastructure Services – a consumption-based, as-a-serv... [7607-Views]
Chrono 4 Grande Taille Limited Edition - another classy reiteration of an iconic collectio... [7259-Views]
The Fall 2019 Michael Kors Collection Runway Show [7064-Views]
Turkish Airlines introduces its new The LEGO® Movie 2 Inflight Safety Video, before moving... [6911-Views]
SPRING 2019: MEET ‘CECE' [6570-Views]
Lacoste Presents. 12. 12 Collection [5911-Views]
Create a Valentine's meal to remember with LG [5826-Views]
Airbus and Emirates reach agreement on A380 fleet, sign new widebody orders [5642-Views]
UAE supermarket chain Al Maya group to launch products from Woolworths Australia [5490-Views]
Valentines Day Gift Guide from Anker [5392-Views]
Is the runway ready for HONOR View20 Moschino edition - the season's most coveted luxe tec... [5374-Views]
Jaguar Land Rover expands Ingenium family with straight six-cylinder petrol engine [5106-Views]
Abu Dhabi University and Knowledge Group to participate in IDEX 2019 [4947-Views]
Okadoc helps UAE patients find a doctor and book an appointment online instantly [4758-Views]
Customs World develops RIISE: first of its kind leading-edge Customs platform [4746-Views]
Bentley launches World's fastest, most luxurious SUV [4721-Views]
Zayed University inaugurates largest Bloomberg Finance Lab in the Middle East [4587-Views]
Kasih Food Production Co. reveals its latest food innovation, Mezete, at Gulfood 2019 [4551-Views]
39 days shopping extravaganza brought grand success to 13 participating malls [4544-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories