Takaful Emarat Posts 25% Increase In Net Profit For 2017

Abu Dhabi: Takaful Emarat listed on Dubai bourse announced a net profit (investment income and operating income) of Dh18.8 million for 2017, up 25 per cent compared to the company’s 2016 net profit of Dh15 million.

The company also said net takaful income was up 35 per cent to Dh122 million for twelve months period ended December 31, 2017 compared to Dh90 million for the same period in 2016.

“During the course of 2017, we maintained our focus on growing the business in tandem with strict cost controls and operational efficiencies, which have generated a 25% increase in net profit for the period,” said Mohammad Al Hawari, Executive Board member and Managing Director of Takaful Emarat.

He said they will continue to grow their business through strategic partnerships (Bayzat and Souqalmal) and the recent acquisition of Al Hilal Takaful.

Total assets for 2017 reached Dh841 million, 15 per cent higher than total assets of Dh732 million for 2016.

Takaful Emarat, established in 2008, is a Sharia compliant life and health takaful provider in the UAE.