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Abu Dhabi National Takaful Company

From Wikipedia, the free encyclopedia
Not to be confused with National Takaful Company (Watania).
Abu Dhabi National Takaful Company PSC
Company typePublic
ADX: TKFL
IndustryTakaful
Founded16 November 2003; 20 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 (Arabic: شركة أبوظبي الوطنية للتكافل ش.م.ع.) -- known simply as Takaful, تكافل, or ADNTC -- was established in 2003[2] by the Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Investment Company.[2] It is a powerful player in the UAE takaful market[3] based in Abu Dhabi, offering a range of takaful products including motor, property, general accidents, family, medical, engineering and Marine cargo coverage.[4] Its shares are traded on the Abu Dhabi Securities Exchange as TKFL.[5]

In 2014, it underwent a review of its wakala fee structure which improved the balance of earnings between the participant and shareholder funds.[3] In 2015 ADIB became a significant shareholder with a 41.7 percent interest.[6]

Recognition

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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.[7]

References

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  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. ^ a b "Abu Dhabi National Takaful Company". ArabianBusiness.com. Archived from the original on 2015-09-05. Retrieved 2020-06-08.
  3. ^ 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.
  4. ^ "Takaful earnings rise 16.5% in first quarter". Khaleej Times. 2015-05-15. Retrieved 2015-08-25.
  5. ^ "TKFL Stock Price | Abu Dhabi National Takaful Co. P.S.C. Stock Quote (Abu Dhabi Securities Exchange)". marketwatch.com. Retrieved 2020-06-08.
  6. ^ "Major Shareholder". Abu Dhabi Securities Exchange. Retrieved 2015-08-25.[permanent dead link]
  7. ^ "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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