Egypt, Saudi Arabia coordinate on regional crises ahead of first Supreme Council meeting    FRA launches first register for tech-based risk assessment firms in non-banking finance    Egypt's Health Ministry, Philips to study local manufacturing of CT scan machines    African World Heritage Fund registers four new sites as Egypt hosts board meetings    Maduro faces New York court as world leaders demand explanation and Trump threatens strikes    Egypt identifies 80 measures to overhaul startup environment and boost investment    Turkish firm Eroglu Moda Tekstil to invest $5.6m in Egypt garment factory    EGX closes in red area on 5 Jan    Gold rises on Monday    Oil falls on Monday    Al-Sisi pledges full support for UN desertification chief in Cairo meeting    Al-Sisi highlights Egypt's sporting readiness during 2026 World Cup trophy tour    Egypt opens Braille-accessible library in Cairo under presidential directive    Abdelatty urges calm in Yemen in high-level calls with Turkey, Pakistan, Gulf states    Madbouly highlights "love and closeness" between Egyptians during Christmas visit    Egypt confirms safety of citizens in Venezuela after US strikes, capture of Maduro    From Niche to National Asset: Inside the Egyptian Golf Federation's Institutional Rebirth    5th-century BC industrial hub, Roman burials discovered in Egypt's West Delta    Egyptian-Italian team uncovers ancient workshops, Roman cemetery in Western Nile Delta    Egypt, Viatris sign MoU to expand presidential mental health initiative    Egypt's PM reviews rollout of second phase of universal health insurance scheme    Egypt sends medical convoy, supplies to Sudan to support healthcare sector    Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services    Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Abu Dhabi National Takaful Q1 Profit Posts AED 6.1 Mln
Amwal Al Ghad Published in Amwal Al Ghad on 06 - 05 - 2012

Abu Dhabi National Takaful Company P.S.C (Takaful), announced financial results for the period ended 31 March 2012, reporting a continued growth in net profit and basic and diluted earnings per share.
Takaful posted a profit for the period ended 31 March 2012 of AED6.1m compared to AED3.6m for the period ended 31 March 2011, which reflects a significant growth of 69.4%.
In addition, Takaful realized an underwriting profit of AED6.0m for the period ended 31 March 2012 compared to AED2.2m for the period ended 31 March 2011, reflecting an increase of 172.7%.
Commenting on the results, Khadem Al Qubaisi Chairman of Abu Dhabi National Takaful Company P.S.C, said: "Building on the solid financial foundations that it has created in 2011, Takaful has managed to overcome the huge difficulties represented in the global financial downturn and the fierce competition in the insurance market to provide value for its shareholders and policyholders. We are delighted and proud of the excellent start to the year 2012, and we look forward to a year of profitable and sustainable growth across all of our business segments."
Osama Abdeen, Chief Executive Officer of Abu Dhabi National Takaful P.S.C commented: "I'm pleased to announce another set of significant and strong financial results for the first quarter of 2012 for Abu Dhabi National Takaful Company PSC. During the period ended 31 March 2012, ADNTC realized a profit of AED6.1m compared to AED3.6m for the comparative period of 2011, reflecting an outstanding growth of 69%. This has been accomplished by implementing our strategy which focuses on profitability and by diversifying our portfolio mix & underwriting approach. Speaking of which, we have realized underwriting profit of AED6.0m for the period ended 31 March 2012 compared to AED2.2m for the period ended 31 March 2011, reflecting an increase of 172.7%. In addition, we continue to place great focus and invest in customer service and customer reach which is evident by the opening of our new branch in Deira, Dubai during the first quarter of 2012. Our shareholders and policyholders remain at the centre of our focus and attention as we progress by maximizing their returns which is evidenced by the 50% growth in basic and diluted earnings per share which amounted to AED0.06 per share for the period ended 31 March 2012 compared to AED0.04 per share for the period ended 31 March 2011. Last year, we have successfully put ADNTC in a strategic position not only to survive the prevailing challenging financial conditions and fierce market competition, but also to capitalize on the developing market opportunities. Therefore, we can say that ADNTC is progressing in the right direction becoming an effective and highly recognized takaful provider."
The Board of Directors, executive management and members of Abu Dhabi National Takaful Co. P.S.C staff wish to extend their sincere appreciation and gratitude to Sheikh Khalifa Bin Zayed Al Nahyan, the President of the UAE and Ruler of Abu Dhabi, to Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, to the Securities and Commodities Authority, to the Insurance Authority, to Emirates Insurance Association, our shareholders and our clients for their continued trust in and support of Abu Dhabi National Takaful Company.
Press Release

Clic here to read the story from its source.