FINANCIAL NEWS

UAE- ADNTC posts 69.4% surge in Q1 profit

09 May 2012

(MENAFN) Abu Dhabi National Takaful Company’s (ADNTC) Chairman, Khadem Al Qubaisi, stated that the firm’s first-quarter profit soared 69.4 percent from last year’s same period to USD1.66 million, reported Emirates 24/7.

Al Qubaisi added that basic and diluted earnings surged 50 percent per share, to USD0.016.

He also said that ADNTC managed to overcome global financial crisis and the fierce competition in the insurance market, enabling it to focus on customer service and customer reach.

It is worth noting that ADNTC underwriting profit hiked 172.7 percent, reaching USD1.63 million, compared with USD0.598 million in 2011’s same quarter.

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