National Takaful Company posts Dh7.6m profit in 2017

07/03/2018 05:49 AST

National Takaful Company (Watania) posted a net profit of Dh7.6 million for 2017 compared to Dh400,000 in 2016 with return on equity of 9 per cent, the firm said on Tuesday in a statement.

Listed on the Abu Dhabi Securities Exchange, the firm is focused on three main areas of business including motor insurance, medical insurance and general insurance.

"While all three lines of business contributed to the operational profitability the major drivers of the profit were motor and medical. As a portfolio both these products form 85 per cent of our net revenue and we will continue to focus on these product lines," said Ali Saeed Bin Harmel Al Daheri, Chairman of the Board of National Takaful Company.

The company said it is open to exploring opportunities for acquisition if the synergy is right and would launch several initiatives to boost growth this year.

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