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Takaful company based in Abu Dhabi From Wikipedia, the free encyclopedia
National Takaful Company (Watania) PJSC (Arabic: وطنية للتكافل) is a takaful company based in Abu Dhabi, United Arab Emirates.
Company type | Public |
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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]
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