Takaful Emarat Rebounds with 84% Revenue Growth, Achieves Dhs960m in Assets
Gulf Network
Takaful Emarat has announced a remarkable 45% increase in its total assets, reaching Dhs960 million for the fiscal year ending December 31, 2024, reinforcing the group's strengthened financial standing. In a significant turnaround, shareholders' equity moved from a Dhs39.7 million deficit in 2023 to a positive Dhs163.2 million in 2024
The company recorded an 84% surge in revenues, reaching Dhs420 million in 2024, compared to Dhs229 million in the previous year. This strong top-line growth was mirrored in operating profit, which also climbed by 84%, underscoring enhanced operational efficiency and a significant boost in profitability.
Commenting on the results, Dr. Noor Aldeen Atatreh, Chairman of the Board at Takaful Emarat, stated: 'Takaful Emarat is one of the UAE's leading Takaful insurers, offering Sharia-compliant health and life insurance services.'
He added: 'Our business operates on the principles of mutual cooperation and participant contribution, setting us apart from traditional profit-driven insurance models. We provide comprehensive health and life insurance solutions to both individual and corporate clients, all fully compliant with Islamic Sharia. Every transaction is carefully reviewed and guided by our dedicated Sharia board.'
Earnings per share (EPS) saw a notable improvement in 2024, reaching almost Dh 0.05 per share — a clear indication of the company's strong financial rebound. Supporting this performance, net investment surged to Dhs32 million, marking a 106% increase from Dhs15.6 million in 2023.
Earnings per share (EPS) saw a notable improvement in 2024, reaching Dh 0.05 per share, a clear indication of the company's strong financial rebound. Supporting this performance, net investment surged to Dhs32 million, marking a 106% increase from Dhs15.6 million in 2023.
Dr. Atatreh concluded:'We remain dedicated to strengthening our relationships with clients while exploring new avenues for growth and strategic alliances. By fostering a culture of excellence and agility, we aim to create lasting value for our shareholders and partners, positioning Takaful Emarat for sustainable success in an evolving business landscape.'
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