Abu Dhabi National Takaful Company

Not to be confused with National Takaful Company (Watania).
Abu Dhabi National Takaful Company PSC
Public
Traded as ADX: TKFL
Industry Takaful
Founded 16 November 2003 (2003-11-16)
Headquarters Tamouh Tower
Al Reem Island, Abu Dhabi, United Arab Emirates
Key people
  • Khamis Buharoon (Chairman)
  • Osama Abdeen (CEO)
Products
  • General takaful
Revenue Increase AED 266 million (2014)[1]
Increase AED 036 million (2014)[1]
Total assets Increase AED 632 million (2014)[1]
Total equity Increase AED 212 million (2014)[1]
Website www.takaful.ae

Abu Dhabi National Takaful Company PSC (Arabic: شركة أبوظبي الوطنية للتكافل ش.م.ع.‎; known simply as Takaful, تكافل, or ADNTC) is a takaful company based in Abu Dhabi, United Arab Emirates. Its shares are traded on the Abu Dhabi Securities Exchange.

The company was established in 2003; its founding members include Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Investment Company.[2] As of 2015, ADIB is a significant shareholder in the company with a 41.7 percent interest.[3]

ADNTC is a significant player in the UAE takaful market.[4] It offers a range of takaful products including motor, property, general accidents, family apart from medical, engineering and Marine cargo coverage.[5] In 2014, it underwent a review of its wakala fee structure which improved the balance of earnings between the participant and shareholder funds.[4]

The company has won various awards including 'Best Bancatakaful Operator Middle East' at the International Takaful Summit 2012, 'Takaful Operator of the Year' in the Middle East by INSUREX Conference & Awards in 2012 and 2013, and 'Takaful Insurer of the Year' for MENA at the MENA Insurance Review (MENAIR) Insurance Awards 2014.[6]

References

  1. 1 2 3 4 Annual Report 2014 (pdf), Abu Dhabi National Takaful Company PSC, 2014-12-31, retrieved 2015-08-24
  2. ↑ "Abu Dhabi National Takaful Company". Arabian Business. Retrieved 2015-08-25.
  3. ↑ "Major Shareholder". Abu Dhabi Securities Exchange. Retrieved 2015-08-25.
  4. 1 2 "A.M. Best Revises Outlook to Positive for Abu Dhabi National Takaful Company P.S.C.". A. M. Best. 2015-08-13. Retrieved 2015-08-25.
  5. ↑ "Takaful earnings rise 16.5% in first quarter". Khaleej Times. 2015-05-15. Retrieved 2015-08-25.
  6. ↑ "Abu Dhabi National Takaful Co. P.S.C Receives the 'Takaful Insurer of the Year' Award at the MENAIR Insurance Awards 2014". Abu Dhabi National Takaful Company PSC. 2014-01-20. Retrieved 2015-08-23.

External links

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