 | Company: National Takaful "Watania"* |
| Date of creation: 2011 |
| Classes of business: Non life |
| Geographical presence: - |
* National Takaful "Watania" has been merged with Dar Al Takaful PJSC. The transaction is expected to be completed during the third quarter of 2022.
National Takaful "Watania": contact
| Head office | Al Jazeera Tower - Barclays, Block A Al Muroor Road, 4th St, Behind Al Jazira Sports Club, 4th Floor, P.O. Box 6457 Abu Dhabi, United Arab Emirates. |
| Phone | +971 2 6138888 |
| E-mail | info [at] watania [dot] ae |
| Website | https://www.watania.ae/ |
National Takaful "Watania": rating
| Agency | Rating | Outlook |
| AM Best | B | Under review |
National Takaful "Watania": management
| Chairman of the board of directors | Ali Saeed Bin Harmel Aldhaheri |
| CEO | Suliman Manla Osman |
National Takaful "Watania": share capital, shareholder’s equity and shareholding
Figures in USD| | 2021 | 2020 | ▲ |
| Share capital | 40 833 000 | 40 833 000 | - |
| Shareholder’s equity | 30 406 000 | 28 338 000 | 7.3% |
| Main shareholders | % | | % |
| MB UAE Investments | 51 | Ali Saeed Bin Harmal Aldhaheri | 12.17 |
| Magna Investment | 15.9 | Al Madina Takaful | 9.54 |
National Takaful "Watania": turnover and result
Figures in USD
| | 2021 | 2020 | ▲ |
| Turnover | 94 584 000 | 87 520 000 | 8.07% |
| Net result | 2 067 000 | 5 017 000 | -58.8% |
National Takaful "Watania": turnover breakdown per class of business
Figures in USD| | 2021 | 2020 | ▲ | 2021% |
| Health | 60 871 000 | 53 660 000 | 13.44% | 64.36% |
| Motor | 23 260 000 | 24 501 000 | -5.07% | 24.59 |
| General third party liability | 2 697 000 | 2 302 000 | 17.16% | 2.85% |
| Engineering | 2 600 000 | 1 771 000 | 46.81% | 2.75% |
| Property | 2 010 000 | 2 387 000 | -15.79% | 2.12% |
| Casualty | 1 188 000 | 1 206 000 | -1.49% | 1.26% |
| Warranty | 1 155 000 | 821 000 | 40.68% | 1.22% |
| Marine cargo & hull | 660 000 | 542 000 | 21.77% | 0.7% |
| Others | 143 000 | 329 000 | -56.53% | 0.15% |
| Total | 94 584 000 | 87 520 000 | 8.07% | 100% |
National Takaful "Watania": main indicators
Figures in %| | 2021 | 2020 | ▲ |
| Net loss ratio (1) | 63 .62 | 55.62 | 14.38 |
| Net management expenses ratio | 31.25 | 39.73 | -21.34 |
| Net combined ratio (1) | 94.87 | 95.35 | -0.5 |
| Shareholder's equity / Technical reserves | 29.32 | 26.79 | 9.44 |
| Shareholder's equity / Gross written premiums | 32.15 | 32.38 | -0.71 |
| Net result / Gross written premiums | 2.19 | 5.73 | -61.78 |
| Net result / Shareholder's equity (ROE) | 6.8 | 17.7 | -61.58 |
Notes:
- Net loss ratio = Net incurred losses (paid losses+outstanding losses ) / Net earned premiums
- Net management expenses ratio = Overhead expenses and acquisition costs / Net written premiums
- Net combined ratio = Loss ratio + Management expenses ratio
Exchange rate as at 31/12/2020 : 1 AED = 0.27222 USD ; at 31/12/2021 : 1 AED = 0.27222 USD
