Takaful Emarat Achieves 84% Revenue Growth And AED 960 Million In Assets For 2024

Takaful Emarat has reported a substantial 45% rise in its total assets, reaching AED960 million by the end of 2024. This growth highlights the company's improved financial position. The firm also experienced an 84% increase in revenues, achieving AED420 million in 2024, compared to AED229 million the previous year. This revenue boost was matched by an equivalent rise in operating profit, showcasing better operational efficiency and profitability.

The company's earnings per share (EPS) showed significant improvement in 2024, reaching nearly AED0.05 per share. This reflects a robust financial recovery for Takaful Emarat. Additionally, net investment increased to AED32 million, a 106% jump from AED15.6 million in 2023.

Dr. Noor Aldeen Atatreh, Chairman of the Board at Takaful Emarat, commented on these results: "Takaful Emarat is one of the UAE’s leading Takaful insurers, offering Sharia-compliant health and life insurance services." He further explained that their business model is based on mutual cooperation and participant contribution, distinguishing it from traditional profit-driven insurance models.

The company offers comprehensive health and life insurance solutions to both individual and corporate clients, ensuring full compliance with Islamic Sharia principles. Each transaction undergoes careful review and guidance by their dedicated Sharia board.

Dr. Atatreh emphasised their commitment to strengthening client relationships while exploring new growth opportunities and strategic partnerships. "We remain dedicated to strengthening our relationships with clients while exploring new avenues for growth and strategic alliances," he stated.

By fostering a culture of excellence and agility, Takaful Emarat aims to create lasting value for shareholders and partners. This approach positions the company for sustainable success in an evolving business environment.

With inputs from WAM