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Abu Dhabi / Gulf Time
National Takaful Company (Watania) on Thursday announced financial results for 2021 that ended December 31, 2021, reporting a net profit of AED 7.6 million and achieved total comprehensive income of AED18.8 million for FY21 as compared to AED 20.1 million for FY20.
Gross written contribution of the company grew by 8.1% year-on-year to AED347.5 million as compared to AED321.5 million in FY20. The investment income for the year was AED 10.6 million as compared to AED 3.2 million in FY20 due to better returns from the equity and real estate portfolio.
The company achieved net profit of AED 7.6 million in FY21 and total comprehensive income for the year was AED18.8 million as compared to AED 20.1 million in 2020 led by mark-to-market gains in the equity portfolio.
Watania was recognised as the best Takaful Company for the year 2020 for its positive transformation since 2016, by this region’s most reputed and acknowledged insurance award – Middle East Insurance Awards. Watania was also judged as the Company with the best CRM platform in 2021 for its work in digitalizing its front-end distribution. Watania is the first company to launch issuance of Motor insurance policy for customers on WhatsApp.