Abu Dhabi-Mubasher: National Takaful Company’s (Watania) reported an increase of 111.6% y-o-y in net profits for the second quarter of 2016.

The company’s profits reached AED 12.21 million ($3.32 million) in the Q2-2016, up from AED 5.77 million ($1.57 million) for the same period of the previous year.

The firm pointed out that the revenues of the Takaful activity recorded AED 23 million in Q2-2016, up 26.3% y-o-y.

As for the first half of 2016, Watania reported net profits of AED 30.32 million up by 70.4% from AED 17.79 million for the similar period a year earlier.