Abu Dhabi – Mubasher: The Board of Directors of National Takaful Co. (WATANIA) has attributed the Company’s growing losses to significantly increased demand on the vehicle portfolio added to a sharp drop in the stock market during the fourth quarter of 2014.

WATANIA reported growing losses by 308.6% to AED 9.79 million ($2.66 million) in FY14 against a loss of AED 2.397 million ($652.47 THD) by the end of 2013.

WATANIA’s capital amounts to AED 150 million divided on 150 million shares at par value AED 1 per share.