UAE: Abu Dhabi National Takaful posts strongest results to date
Source: Middle East Insurance Review | Mar 2017
Abu Dhabi National Takaful has posted net profit of AED49 million (US$13.3 million) for 2016, 18% higher than in 2015. Earning per share reached AED0.49 at the end of 2016 compared to AED0.42 in 2015.
The company said in a statement that the 2016 performance marked the seventh consecutive year of continuous increase in net profit.
Total gross contributions grew by 8.1% y-o-y to AED320.8 million last year. Net investment income and other income increased to AED10.8 million in 2016 from AED6.4 million a year ago.
Shareholders’ equity amounted to AED271.1 million at 31 December 2016, up from AED240.9 million at the end of 2015.
AED1 = US$0.27