Abu Dhabi – Mubasher: The net profits of National Takaful Company (Watania) hiked by 77.5% to AED 17.77 million in the January-September period of 2020 from AED 10.01 million in the year-ago period.

The company's net takaful income increased to AED 68.13 million in the first nine months of 2020 from AED 49.19 million in the same period of 2019, according to the company's interim financials for the period ended on 30 September 2020.

Meanwhile, the company's underwriting profit rose by 43.6% to AED 42.695 million during the January-September period of 2020 from AED 29.73 million in the same period of 2019.

The basic and diluted earnings per share (EPS) stood at AED 0.12 in the first nine months of 2020, compared to AED 0.07 in the prior-year period.

Meanwhile, the company has incurred accumulated losses of AED 45.6 million by the third quarter (Q3) of 2020, representing 30.4% of the capital.

The accumulated losses are down from AED 71.2 million.

It is noteworthy to mention that in the first half (H1) of 2020, Watania's net profits hiked by 135.7% to AED 16.56 million from AED 7.025 million in the year-ago period.