Watania
Company type | Public |
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ADX: WATANIA | |
Industry | Takaful |
Founded | 12 July 2011 |
Headquarters | Al Jazeera Tower , Al Muroor Road, Abu Dhabi United Arab Emirates |
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Products |
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Revenue | ![]() |
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Website | www |
National Takaful Company (Watania) PJSC (Arabic: وطنية للتكافل) is a takaful company based in Abu Dhabi, United Arab Emirates.
The company was created in 2011 by Abu Dhabi National Islamic Finance, Abu Dhabi National Insurance Company, TAQA and Aldar Properties.[4] These founding investors floated around 55 percent of the company's shares in an initial public offering which was seven times oversubscribed.[4][5] The company commenced operations shortly after, with the opening of two branches in Abu Dhabi and Dubai over the following two years.[6]
In 2014, Oman-based conglomerate MB Holding acquired a 60.5 percent stake in the company through two subsidiaries, including Al Madina Takaful.[7][3]
Watania operates using the wakala model and offers general and health takaful products.[8]
References
[edit]- ^ a b c d Annual Report 2016 (PDF), National Takaful Company (Watania) PJSC, 2016-12-31, retrieved 2017-07-11
- ^ a b Khan, Gulam Ali (2014-08-26). "Al Madina, MB Holding to buy 60.5% stake in UAE takaful firm". Muscat Daily. Retrieved 2015-08-29.
- ^ a b Haider, Haseeb (2011-05-03). "Watania IPO 7 times oversubscribed". Khaleej Times. Retrieved 2015-08-29.
- ^ "National Takaful Company "Watania" to launch IPO tomorrow". National Bank of Abu Dhabi. 2011-04-18. Retrieved 2015-08-29.
- ^ "Watania's constituent general meeting approves the official launch of the company". National Takaful Company (Watania) PJSC. 2011-05-23. Retrieved 2015-08-29.
- ^ Al Sayegh, Hadeel (2014-08-26). "Islamic insurer Watania rises close to 10% on takeover interest". The National. Retrieved 2015-08-29.
- ^ "Watania takaful model". National Takaful Company (Watania) PJSC. Retrieved 2015-08-29.