UAE: Takaful Emarat turns profitable on revenue growth and higher investment income
Source: Middle East Insurance Review | May 2025
Takaful Emarat achieved a turnaround in its financial results in 2024 when it reported net profits attributable to shareholders of AED11.2m ($3m) compared to a net loss of AED12.4m in 2023, according to the audited consolidated financial statements of the company.
The consolidated financial results improved on the back of an 84% surge in revenue to AED420m in 2024, compared to AED229m in 2023. This strong top-line growth was mirrored in operating profit, which also climbed by 84%, underscoring enhanced operational efficiency and a significant boost in profitability.
In addition, net investment income jumped by 84.8% to AED30.6m in 2024 from AED16.6m in 2023. Takaful Emarat reported a 45% increase in its total assets that reached AED959.8m as of 31 December 2024. In a significant turnaround, shareholders’ equity moved from an AED39.7m deficit in 2023 to a positive of AED163.2m in 2024. M