Abu Dhabi National Takaful registers over 16% increase in 2011 net profit

Abu Dhabi National Takaful Company P.S.C (“Takaful”), posted a net profit for the year ended 31 December 2011 of AED 24.4 million compared to AED 21.0 million for the year ended 31 December 2010, which reflects a significant growth of 16.2, showing a continued growth in net profit, gross contributions, basic earnings per share, and shareholder’s equity.

Mr. Osama Abdeen, Chief Executive Officer of Abu Dhabi National Takaful P.S.C said:  “2011 was a difficult year for most sectors around the world and the insurance sector is no exception; however, TAKAFUL achieved remarkable results on several fronts including the total Contributions which increased from AED 149.9 million as at 31 December 2010 to AED 196.6 million as at 31 December 2011, representing a growth of 31.2%. These results would have not been possible without the implementation of prudent strategies which maintained a well-balanced and diversified portfolio mix, taking into consideration the market’s needs and requirements. Basic Earnings per Share for the year ended 31 December 2011 amounted to AED 0.27 compared to AED 0.23 for the year ended 31 December 2010, representing a growth of 17.4%, which reflects TAKAFUL’S great interest in maximizing the returns for its shareholders while maintaining a solid base for future investments and growth. It demonstrates that our Takaful model is progressing with success and that “Takaful” is very well positioned to deliver on its promises and to fulfill its shareholders and policyholders’ ever changing needs.”, Zawya reported.

Abdeen added: “We are optimistic that we intend to make 2012 a year of continued success and growth, a year of continued focus on customer service, product offerings, and diversifying of our portfolio mix. Abu Dhabi National Takaful Company very well positioned and prepared to continue to grow in a sustainable manner that will ensure we achieve our objective of being the Takaful operator of ‘First Choice’ in the region.”