UAE: Takaful Emarat rebounds with 84% revenue growth
Takaful Emarat has announced a remarkable 45 percent increase in its total assets, reaching AED960 million for the fiscal year ending 31st December 2024, reinforcing the group's strengthened financial standing.
The company recorded an 84 percent surge in revenues, reaching AED420 million in 2024, compared to AED229 million in the previous year. This strong top-line growth was mirrored in operating profit, which also climbed by 84 percent, 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 AED0.05 per share — a clear indication of the company's strong financial rebound. Supporting this performance, net investment surged to AED32 million, marking a 106 percent increase from AED15.6 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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