Abu Dhabi National Takaful H1 profit rises 35%
Saturday, 08 10 2019, Category: Islamic Insurance, Country: U.A.E
Abu Dhabi National Takaful (ADNTC), the leading takaful operator in the GCC region, has reported a 35% year-on-year growth in its combined net profit for the first half of 2019.
Net profit amounted to AED 65.4 million in H1-19, compared to AED 48.5 million in the prior-year period, ADNTC said in a statement.
The company’s underwriting profit grew by 27% to AED 46 million during the six-month period ended 30 June from AED 36 million in H1-18.
Khamis Buharoon Al Shamsi, ADNTC’s board chairman, said: “Despite challenging business environment, our core strategy remains focused on delivering sustainable results with profitable growth.”
“The company continues to deliver stronger shareholders value with earnings per share of AED 0.45 and shareholders net profit of AED 44.6 million compared to AED 36.6 million for the corresponding period witnessing an impressive increase of 22%,” he added.
ADNTC previously posted a net profit of AED 36.7 million for the first quarter of 2019, up 37% from AED 26.9 million in Q1-18.