Takaful Emarat recorded record financial results in 2020, achieving a comprehensive income for the year of AED 7 million compared to losses estimated at AED 37 million in the previous year, despite the repercussions of the “Covid-19” crisis that cast its shadow over various sectors.
These results come after a comprehensive restructuring process, during which the company was keen to maintain employee salaries and compensation, in a move that reflects its focus on its human resources and its deep confidence in its ability to overcome the repercussions of the pandemic. The financial results also revealed the success of the company’s strategy in employing innovation and focusing on digital solutions, which contributed to strengthening Takaful Emarat’s leading position in the insurance sector in the United Arab Emirates.
Total written premiums in 2020 amounted to AED 614 million, compared to AED 606 million in 2019, and net takaful income in 2020 amounted to AED 80.8 million, compared to AED 77.5 million in 2019. The company’s general and administrative expenses, which amounted to AED 60.5 million in 2020, decreased by 30.6% compared to the previous year, after amounting to AED 87.2 million in 2019.
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