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Watania

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Takaful company based in Abu Dhabi
National Takaful Company (Watania) PJSC
Company typePublic
Traded asADX: WATANIA
IndustryTakaful
Founded12 July 2011; 13 years ago (2011-07-12)
HeadquartersAl Jazeera Tower
Al Muroor Road, Abu Dhabi, United Arab Emirates
Key people
  • Ali Saeed Sultan Bin Harmel Al Dhaheri (Chairman)
  • Gautam Datta (CEO)
Products
  • General takaful
  • Health takaful
RevenueIncrease AED 272 million (2017)
Net incomeIncrease AED 8 million (2016)
Total assetsDecrease AED 323 million (2016)
Total equityIncrease AED 085 million (2016)
Parent
Websitewww.watania.ae

National Takaful Company (Watania) PJSC (Arabic: وطنية للتكافل) is a takaful company based in Abu Dhabi, United Arab Emirates.

The company was created in 2011 by Abu Dhabi National Islamic Finance, Abu Dhabi National Insurance Company, TAQA and Aldar Properties. These founding investors floated around 55 percent of the company's shares in an initial public offering which was seven times oversubscribed. The company commenced operations shortly after, with the opening of two branches in Abu Dhabi and Dubai over the following two years.

In 2014, Oman-based conglomerate MB Holding acquired a 60.5 percent stake in the company through two subsidiaries, including Al Madina Takaful.

Watania operates using the wakala model and offers general and health takaful products.

References

  1. ^ Annual Report 2016 (PDF), National Takaful Company (Watania) PJSC, 2016-12-31, retrieved 2017-07-11
  2. ^ "Major shareholders". Abu Dhabi Securities Exchange. Retrieved 2015-08-29.
  3. ^ Khan, Gulam Ali (2014-08-26). "Al Madina, MB Holding to buy 60.5% stake in UAE takaful firm". Muscat Daily. Retrieved 2015-08-29.
  4. ^ Haider, Haseeb (2011-05-03). "Watania IPO 7 times oversubscribed". Khaleej Times. Retrieved 2015-08-29.
  5. "National Takaful Company "Watania" to launch IPO tomorrow". National Bank of Abu Dhabi. 2011-04-18. Retrieved 2015-08-29.
  6. "Watania's constituent general meeting approves the official launch of the company". National Takaful Company (Watania) PJSC. 2011-05-23. Retrieved 2015-08-29.
  7. Al Sayegh, Hadeel (2014-08-26). "Islamic insurer Watania rises close to 10% on takeover interest". The National. Retrieved 2015-08-29.
  8. "Watania takaful model". National Takaful Company (Watania) PJSC. Retrieved 2015-08-29.

External links

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