Takaful Emarat Reports Impressive 45% Growth in Total Assets
Takaful Emarat has achieved a significant milestone, announcing a 45% increase in its total assets, which reached AED960 million for the fiscal year ending December 31, 2024.
This remarkable growth underscores the company's solid financial foundation and continued resilience in the market.
The company's revenues surged by 84%, reaching AED420 million in 2024, up from AED229 million the previous year. This substantial increase is mirrored by an 84% rise in operating profits, highlighting improved operational efficiency and enhanced profitability.
Dr. Noor Aldeen Atatreh, Chairman of the Board, emphasized the company's role as a leading provider of Sharia-compliant health and life insurance in the UAE. He explained, 'Takaful Emarat operates on principles of mutual cooperation and participant contribution, distinguishing us from traditional profit-driven models. Our services are fully aligned with Islamic Sharia, ensuring comprehensive solutions for both individual and corporate clients.'
In addition to the strong revenue growth, earnings per share (EPS) saw a marked improvement, reaching AED0.05, signaling a robust financial rebound. The company's net investments also saw a significant jump, rising by 106% to AED32 million, compared to AED15.6 million in 2023.
Dr. Atatreh concluded, 'We are committed to deepening our relationships with clients and exploring new growth opportunities. By nurturing a culture of excellence, we aim to deliver sustainable value for our shareholders and partners, positioning Takaful Emarat for continued success.'
News Source: Emirates News Agency
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