A general assembly of Dar Al Takaful has approved the distribution of cash dividends for 1H2020 amounting to AED4.9m ($1.3m), equivalent to about 3.3% of the company's capital for the first half of the current year.
The company's profits during 1H2020 increased by 387% to reach AED5.5m, compared to AED1.13m in 1H2019.
Shahab Lutfi, vice chairman of Dar Al Takaful, said in a statement, “We have pledged to be at the forefront of the takaful sector in the Middle East and are considered the second largest takaful insurance entity in the United Arab Emirates. We look forward to achieving more growth over the next few years, especially in our general business and healthcare business.”
In July 2020, Dar Al Takaful completed the acquisition of Noor Takaful General and Noor Takaful Family, merging them under the brand name of "Noor Takaful".
Dar Al Takaful was established in 2008 with a paid-up capital of AED150m and is based in Dubai.