Watania logs accumulated losses

Watania's accumulated losses represent 36.2% of the capital

  

Abu Dhabi – Mubasher: National Takaful Company (Watania) has incurred accumulated losses of AED 54.3 million, representing 36.2% of the capital.

Watania's accumulated losses are caused by few large accounts underwritten during the 2011-2015 period, which turned into losses, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX).

Noteworthy to mention that the company's net profits grew in 2019 by 10.54% to AED 13.13 million, compared to AED 9.47 million in 2018.

Source: Mubasher

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