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Abu Dhabi National Takaful Company

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Not to be confused with National Takaful Company (Watania).
Abu Dhabi National Takaful Company PSC
Company typePublic
ADX: TKFL
IndustryTakaful
Founded16 November 2003; 21 years ago (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 and Family Takaful
RevenueIncrease AED 266 million (2014)[1]
Increase AED 036 million (2014)[1]
Total assetsIncrease AED 632 million (2014)[1]
Total equityIncrease AED 212 million (2014)[1]
Websitewww.takaful.ae

Abu Dhabi National Takaful Company PSC (Template:Lang-ar) -- known simply as Takaful, تكافل, or ADNTC -- was established in 2003[2] by the Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Investment Company.[3] It is a powerful player in the UAE takaful market[4] based in Abu Dhabi, offering a range of takaful products including motor, property, general accidents, family, medical, engineering and Marine cargo coverage.[5] Its shares are traded on the Abu Dhabi Securities Exchange as TKFL.[6]

In 2014, it underwent a review of its wakala fee structure which improved the balance of earnings between the participant and shareholder funds.[4] In 2015 ADIB became a significant shareholder with a 41.7 percent interest.[7]

Recognition

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.[8]

References

  1. ^ a b c d Annual Report 2014 (PDF), Abu Dhabi National Takaful Company PSC, 2014-12-31, archived from the original (pdf) on 2015-09-24, retrieved 2015-08-24
  2. ^ "Abu Dhabi National Takaful Company". ArabianBusiness.com. Retrieved 2020-06-08.
  3. ^ "Abu Dhabi National Takaful Company". Arabian Business. Retrieved 2015-08-25.
  4. ^ a b "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. ^ "TKFL Stock Price | Abu Dhabi National Takaful Co. P.S.C. Stock Quote (Abu Dhabi Securities Exchange)". marketwatch.com. Retrieved 2020-06-08.
  7. ^ "Major Shareholder". Abu Dhabi Securities Exchange. Retrieved 2015-08-25.[permanent dead link‍]
  8. ^ "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.
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