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The Chairman of Islamic insurer Abu Dhabi National Takaful Co. resigned on Tuesday
06/08/2014 01:11 AST
The Chairman of Islamic insurer Abu Dhabi National Takaful Co. (Takaful) resigned on Tuesday, according to a statement on the Abu Dhabi bourse.
No explanation was giving for Khadem Al Qubaisi's resignation. He has been replaced by Vice-Chairman Khamis Buharoon. Nasser M. Al Murr Al Za'abi has filled the vacated board seat, according to a separate statement on the bourse.
Last month, Takaful reported a nearly 25 per cent drop in second quarter net profits. The company made Dh15 million in net profits for the three months ending June 30 compared to Dh19.9 million in the same period last year.
Takaful could not be reached for comment on Tuesday, however, said last month the fall in net profits was largely due to the increase in net claims incurred in the motor line of business.
"This has resulted in an adverse impact on the profitability of our motor portfolio and also attributable to the prevailing intense competition on prices in respect of all lines of business," stated Osama Abdeen, chief executive officer.
Al Qubaisi was reported to have said that Takaful is in the process of obtaining an international financial rating.
Gulf News
20/11/2017
Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, has announced that its CFO, Farah Arakji, p
Press Release
08/08/2016
Abu Dhabi National Takaful Co. PSC (TAKAFUL), the leading Takaful operator in the region, announced its financial results for the period ended 30th June 2016.
The company announced a net p
Press Rlease
23/02/2015
Abu Dhabi National Takaful Company P.S.C, reported its financial results for the year ended 31 December 2014 with a net profit of AED 35.8 million.
Commenting on the results, Mr. Khamis Buha
CPI Financial
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 404.00 | 2.40 (0.59 |
| FAB | 14.00 | -0.24 (-1.69 |
| EMIRATESNBD | 20.15 | 0.10 (0.49 |
| ADCB | 10.68 | 0.28 (2.69 |
| EIB | 11.95 | 0.00 (0.00 |
13/03/2025
Asyad Shipping Company, one of the world's largest diversified maritime providers and a global leader in deep-sea transportation, successfully listed on the Muscat Stock Exchange (MSX) on Wednesday f
Muscat Daily
13/03/2025
Qatar Gas Transport Company (Nakilat) marked a significant milestone with the steel cutting ceremony for eight of its new LNG carriers at Hanwha Ocean Shipyard in South Korea.
These vessel
Trade Arabia
12/03/2025
Oman's Ministry of Energy and Minerals has entered into an Exploration and Production Sharing Agreement (EPSA) with OQ Exploration and Production (OQEP) and Genel Energy to develop Concession Block 5
Muscat Daily
11/03/2025
For the third consecutive year, Gulf Bank successfully organized an exhilarating fitness challenge at Lose Gain, a specialized group training gym. The event combined high-energy workouts with friendl
Khaleej Times
11/03/2025
Oman Telecommunications Company (Omantel) Group has reported significant growth in its financial results for the year 2024. The group's revenue (including Zain Group's operations) increased by 3%, fr
Muscat Daily
Financial Information Co.
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