UAE: Abu Dhabi National Takaful grows net profit to US$10 mln

Source: Middle East Insurance Review | Apr 2015

Abu Dhabi National Takaful Company (ADNTC) has ended its 2014 financial year with a net profit of AED35.8 million (US$9.7 million), marginally higher than the previous year’s level of AED35.2 million. Gross contributions grew 9% over the year to reach AED295.4 million.

Chairman Khamis Buharoon Al Shamsi said: “The financial results for the year ended 31 December 2014 and the achievements of ADNTC during 2014 reflect sustained and profitable growth across all lines & functions.”

Technical results fell 8% over the year to AED54.8 million, while net investment income and other income increased 56% to AED11.7 million.

AED1 = US$0.27

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