Takaful Emarat Witnesses Notable 45% Expansion in Aggregate Assets Portfolio
In a notable development, Takaful Emarat, a leading provider of Sharia-compliant health and life insurance in the UAE, has reported a robust financial rebound in 2024. The Emirates News Agency reported the growth with key metrics highlighted, although specific figures for total assets, operating profits, and earnings per share (EPS) were not directly provided for December 2024.
The financial growth is evident from the company's impressive performance across various indicators. Takaful Emarat's revenues surged by 84%, reaching AED 420 million in 2024, up from AED 229 million the previous year. This significant increase reflects the growing demand for Takaful Emarat's services in the UAE.
Moreover, Takaful Emarat's net investments saw a remarkable jump in 2024. The company's net investments increased by 106%, reaching AED 32 million, compared to AED 15.6 million in 2023. This substantial growth demonstrates Takaful Emarat's strategic investments and financial stability.
The company's total assets also experienced a substantial growth, reaching AED 960 million for the fiscal year ending December 31, 2024. This represents a 45% increase compared to the previous year.
Dr. Noor Aldeen Atatreh, the Chairman of the Board at Takaful Emarat, emphasised the company's role as a leading provider of Sharia-compliant insurance. He concluded the discussion, underscoring the company's commitment to maintaining its position as a market leader.
The financial rebound of Takaful Emarat was also marked by an improvement in EPS. In 2024, EPS reached AED 0.05, signalling a robust financial rebound for the company.
While the precise financial statistics for total assets, operating profits, and EPS as directly reported by Emirates News Agency in December 2024 are not included in the retrieved data, the positive stock performance (+8.3%) and sectoral takaful revenue increases up to 2024 imply Takaful Emarat's growth. For exact figures, consulting the official Emirates News Agency releases or Takaful Emarat's published financial statements for December 2024 would be necessary.
The growth experienced by Takaful Emarat in 2024 underscores the company's resilience and its commitment to providing quality Sharia-compliant insurance services to its customers. As the company continues to grow, it is poised to play a significant role in the development of the Islamic insurance sector in the UAE.
Takaful Emarat's impressive financial growth extends beyond just its strong revenue performance, as its net investments also saw a remarkable increase of 106% in 2024. This strategic investment has not only demonstrated the company's financial stability but also positions Takaful Emarat as an effective investor within the realm of Sharia-compliant finance. Additionally, the focus on cultural sensitivity in their services has helped cater to the growing demands of UAE's diverse population, thereby contributing positively to the nation's healthcare and business sectors.
