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Dubai / EMIRATES BUSINESS
Takaful Emarat (“the Companyâ€), the DFM-listed, Shariah-compliant life and health insurer, during its Annual General Meeting (AGM) voted for a proposed cash dividend of AED 8 million, equating to 5.33% of its paid-up capital. The Company’s first ever dividend payout, proposed by the board of directors, follows a 42% uplift in Net Profit for the 12 months of the year ended 31 December, 2015.
During 2015, Takaful Emarat’s net profits increased to AED 10.21 million, compared to AED 7.18 million in 2014, due to an expansion in the Medical and Life lines of business, prudent underwriting, and cost efficiency through strict control of general and administrative expenses. Net Operating Profits were up 213% for 2015 to AED 42.08 million compared to AED 13.44 million in 2014 due to significant growth in Gross Contributions Written.
Earned Contributions increased by 216% to AED377.89 million for 2015, compared to AED 119.40 million in 2014, and total assets at 2015 year end were up 89% to AED 439.26 million compared to AED 232.26 million for 2014. Takaful Emarat’s Chief Executive Wael Al-Sharif said: “Takaful Emarat’s business continues to grow rapidly as can be seen from our strong 2015 full year performance.