Watania

National Takaful Company (Watania) PJSC
Company type	Public
Traded as	ADX: WATANIA
Industry	Takaful
Founded	12 July 2011; 13 years ago
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)
Net income	AED 8 million (2016)
Total assets	AED 323 million (2016)
Total equity	AED 085 million (2016)
Parent	MB UAE Investments LLC (51.00%) (wholly owned by MB Holding); Al Madina Insurance Company SAOG (9.53%) (26% owned by MB Holding);
Website	www.watania.ae

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

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

^ ^a ^b ^c ^d Annual Report 2016 (PDF), National Takaful Company (Watania) PJSC, 2016-12-31, retrieved 2017-07-11^{[dead link]}
^ ^a ^b "Major shareholders". Abu Dhabi Securities Exchange. Retrieved 2015-08-29.
^ ^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.

External links

Official website

[AR_2016-1] Annual Report 2016 (PDF), National Takaful Company (Watania) PJSC, 2016-12-31, retrieved 2017-07-11^{[dead link]}

[shareholders-2] "Major shareholders". Abu Dhabi Securities Exchange. Retrieved 2015-08-29.

[mb-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.

[khaleej-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.

[1]