Watania

National Takaful Company (Watania) PJSC (Arabic: وطنية للتكافل) is a takaful company based in Abu Dhabi, United Arab Emirates.

National Takaful Company (Watania) PJSC

Type	Public
Traded as	ADX: WATANIA
Industry	Takaful
Founded	12 July 2011; 12 years ago (2011-07-12)
Headquarters	Al Jazeera Tower Al Muroor Road, Abu Dhabi , United Arab Emirates
Key people	Ali Saeed Sultan Bin Harmel Al Dhaheri (Chairman) Gautam Datta (CEO)
Products	General takaful Health takaful
Revenue	AED 272 million (2017)^[1]
Net income	AED 8 million (2016)^[1]
Total assets	AED 323 million (2016)^[1]
Total equity	AED 085 million (2016)^[1]
Parent	MB UAE Investments LLC (51.00%)^[2] (wholly owned by MB Holding) Al Madina Insurance Company SAOG (9.53%)^[2] (26% owned by MB Holding)^[3]
Website	www.watania.ae

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

1. Annual Report 2016 (PDF), National Takaful Company (Watania) PJSC, 2016-12-31, retrieved 2017-07-11
2. "Major shareholders". Abu Dhabi Securities Exchange. Retrieved 2015-08-29.
3. 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.
4. Haider, Haseeb (2011-05-03). "Watania IPO 7 times oversubscribed". Khaleej Times. Retrieved 2015-08-29.
5. "National Takaful Company "Watania" to launch IPO tomorrow". National Bank of Abu Dhabi. 2011-04-18. Retrieved 2015-08-29.
6. "Watania's constituent general meeting approves the official launch of the company". National Takaful Company (Watania) PJSC. 2011-05-23. Retrieved 2015-08-29.
7. Al Sayegh, Hadeel (2014-08-26). "Islamic insurer Watania rises close to 10% on takeover interest". The National. Retrieved 2015-08-29.
8. "Watania takaful model". National Takaful Company (Watania) PJSC. Retrieved 2015-08-29.

External links

• Official website