National Takaful Company (Watania) PJSC (Arabic: وطنية للتكافل) is a takaful company based in Abu Dhabi, United Arab Emirates.
| Company type | Public |
|---|---|
| ADX: WATANIA | |
| Industry | Takaful |
| Founded | 12 July 2011 |
| Headquarters | Al Jazeera Tower , Al Muroor Road, Abu Dhabi United Arab Emirates |
Key people |
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| Products |
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| Revenue |  AED 272 million (2017)[1] |
| AED 8 million (2016)[1] | |
| Total assets |  AED 323 million (2016)[1] |
| Total equity | AED 85 million (2016)[1] |
| Parent |
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| Website | www |
The company was created in 2011 by Abu Dhabi National Islamic Finance, Abu Dhabi National Insurance Company, TAQA and Aldar Properties.[4] These founding investors floated around 55 percent of the company's shares in an initial public offering which was seven times oversubscribed.[4][5] The company commenced operations shortly after, with the opening of two branches in Abu Dhabi and Dubai over the following two years.[6]
In 2014, Oman-based conglomerate MB Holding acquired a 60.5 percent stake in the company through two subsidiaries, including Al Madina Takaful.[7][3]
Watania operates using the wakala model and offers general and health takaful products.[8]
References edit
- ^ a b c d Annual Report 2016 (PDF), National Takaful Company (Watania) PJSC, 2016-12-31, retrieved 2017-07-11
- ^ a b 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.
- ^ a b Haider, Haseeb (2011-05-03). "Watania IPO 7 times oversubscribed". Khaleej Times. Retrieved 2015-08-29.
- ^ "National Takaful Company "Watania" to launch IPO tomorrow". National Bank of Abu Dhabi. 2011-04-18. Retrieved 2015-08-29.
- ^ "Watania's constituent general meeting approves the official launch of the company". National Takaful Company (Watania) PJSC. 2011-05-23. Retrieved 2015-08-29.
- ^ Al Sayegh, Hadeel (2014-08-26). "Islamic insurer Watania rises close to 10% on takeover interest". The National. Retrieved 2015-08-29.
- ^ "Watania takaful model". National Takaful Company (Watania) PJSC. Retrieved 2015-08-29.