Abu Dhabi National Takaful Co. PSC Announces a Combined Net Profit of AED 26.9 million in Q1 2018 Achieving 34% Growth in Profitability
Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the region and among the most progressive insurance providers in the UAE, has launched its financial outcomes for the first quarter of 2018 ending on 31 March 2018, revealing a consolidated internet earnings of AED 26.9 million (for policyholders & shareholders before Qard Hasan provision) attaining a growth of 34% compared with AED 20.1 million for the very same period in last year.
The technical profit reached AED 33.5 million showing an increase of 24 % compared to AED 27 and the underwriting revenue got to AED 23.5 million revealing a boost of 39% compared to AED 17 million for the exact same period in 2015.
ADNTC is off to a solid start in 2018 with a higher trajectory in its enhancing consolidated internet success. In 2017, the company's combined net earnings got to AED 64.6 million showing an impressive increase of 35% compared to AED 48.4 million for the year 2016.
With significant performance enhancement throughout all financial & non-financial signs, the company continuouslies focus on maintaining strong underwriting discipline, supplying outstanding client service and offering innovative products & services.
ADNTC's regular performance is additional recommended with a Financial Toughness Score of A- (Excellent) and an Issuers Credit Score of "a-" appointed to it by A.M. Finest. This is the highest score offered to any Takaful driver by A.M Finest around the world.
Khamis Buharoon Al Shamsi, Chairman of the Board of Supervisors, ADNTC, said: "ADNTC is off to a strong start in 2018, preparing for an also much better efficiency for the remainder of the year. Taking a look at our audio business design and critical development strategies, we are confident that we will maintain sustainability in our performance to get to new degrees of growth sustained by our boosted products & services."
Osama Abdel Raouf Abdeen, Ceo, ADNTC, said, "In insurance coverage industry, ADNTC continues to gain ground as shown by our consistent outstanding financial efficiency time after time. Our underwriting profit of AED 23.5 million uploaded for the initial 3 months of 2018 is an indicator of our credibility as the leading takaful operator in the region and our steady outstanding financial standing. To endure our lead, felt confident that we will continue to be committed to resolving the requirements of our customers by using one of the most viable Sharia'a compliant insurance experience."
In 2017, ADNTC was recognized as the Takaful Company of the Year at the 4th Middle East Insurance Industry Awards (MIIA) for its continued exceptional performance.
For additional information on ADNTC, please visit www.takaful.ae
