Watania Takaful records 136% rise in H1 profit

Watania Takaful records 136% rise in H1 profit

Watania Takaful records 136% rise in H1 profit Admin 15 hours ago Local NewsAbu Dhabi / Emirates BusinessWatania's net profit jumps to AED16.6 million during the first six months of 2020 from AED7 million as compared to the same period last year – a growth of 136%, declared Dr Ali Saeed Bin Harmal Al Dhaheri, Chairman of the Board of National Takaful Company. The lockdown imposed on account of the pandemic saw significant reduction in road accidents and general illnesses. This had a positive impact on company's motor and medical insurance portfolio. The overall loss ratio came down to 54% compared to 62% last year for the same period. The operating income increased by 271% from AED 3.4 million to AED 12.6 million. The investment income shows a slight