Dar Al Takaful completes distribution of cash dividends to shareholders

The Dar Al Takaful General Assembly meeting held on August 26 has approved the distribution of cash dividends for H1 2020 to shareholders amounting to AED 4.9 million, equivalent to about 3.3% of the capital for the first half of the current year, with the registration closing date of September 6 2020.

"The Takaful sector in the UAE has witnessed remarkable growth over the past decade, accompanied by an increase in awareness among the community about ethical Islamic insurance products. It provides our customers with the protection and peace of mind. Our product prices have decreased in the UAE market, thus improving customer value. Through the new regulations and laws by the competent authorities in the country, the insurance sector is witnessing further strengthening which benefits end users", said Shahab Lutfi, Vice Chairman, Dar Al Takaful.

Shahab Lutfi, Vice Chairman, Dar Al Takaful

The company's profits during H1 2020 increased by 387% to reach AED 5.5 million, compared to AED 1.13 million in H1 2019. The General Assembly approved the resignation of four members of the Board of Directors and elected replacements to complete the term of the independent members ending in 2021.

"We have pledged to be at the forefront of the Takaful sector in the Middle East and are considered the second largest Takaful insurance entity in the United Arab Emirates. We look forward to achieving more growth over the next few years, especially in our general business and healthcare business", he concluded.

In July 2020, Dar Al Takaful completed the acquisition of Noor Takaful General and Noor Takaful Family, merging them under the brand name of "Noor Takaful".

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