Takaful Emarat (PSC)

Takaful Emarat Insurance (P.S.C) is a public shareholding company based in Dubai, United Arab Emirates. It is registered under Federal Law No. 48 of 2023 and appears in the insurance companies register under No. 86, dated October 14, 2008. The company's contact details include a phone number: +971 4 230 9300 and a fax number: +971 4 230 9333. The Chief Executive Officers mentioned are H.E. Waleed Saeed Al Awadhi from the Securities and Commodities Authority in Abu Dhabi and Mr. Hamed Ahmed Ali from the Dubai Financial Market. A board meeting is scheduled for Tuesday, October 14, 2025, at 3:00 PM to discuss business updates and other matters. The authorized signatory for the company is CEO Adnan Sabaalaish, with the document signed on October 9, 2025.

On September 19, 2025, Ms. Huda Essa Abdulla Buhumaid, an independent, non-executive board member of Takaful Emarat Insurance PSC, resigned from the company's Board of Directors due to personal reasons. The resignation was officially accepted on the same day. The document was signed and sealed by Adnan Saba Elaish, the Chief Executive Officer, on September 25, 2025.

Takaful Emarat, a Shariah-compliant insurance provider in the UAE, has appointed Mr. Adnan Sab'a El Aish as its Chief Executive Officer. Mr. Adnan has been with the company for over nine years, previously serving as Director of Finance and Acting CEO. He has over 20 years of experience in the insurance industry. Mr. Nooraldeen Atatreh, Chairman of the Board, expressed confidence in Mr. Adnan's leadership and dedication, anticipating that he will lead the company into its next phase of growth.

On 12 September 2025, a board meeting of Takaful Emarat Insurance PSC was held by circulation at 3:00 PM, with five board members present, achieving a quorum of 71%. During the meeting, the board approved the appointment of Mr. Adnan Sabaalaish as Chief Executive Officer and Mr. Abdulrahman Marwan Ahmad Majid Alghurair to a vacant board member position, pending ratification at the next General Assembly meeting. The meeting's results were authorized by Salman Qureshi, the Senior Compliance Manager.

Takaful Emarat Insurance (P.S.C) is a public shareholding company registered under Federal Law No. 48 of 2023 in the United Arab Emirates. It holds insurance company registration number 86, dated October 14, 2008. The company's office is located in Dubai, and its contact number is +971 4 230 9300. On September 9, 2025, a board meeting was scheduled to be held by circulation on September 12, 2025, at 3:00 PM. The meeting's agenda included the appointment of a board member and the Chief Executive Officer. Adnan Sabaalaish is the Acting Chief Executive Officer and the authorized signatory for the company.

The document outlines the financial situation of Takaful Emarat – Insurance (PSC) as of the second quarter of 2025, prepared according to the SCA Board of Directors' Decision No. (32/R.M.) of 2019. This decision mandates companies with accumulated losses of 20% or more of their paid-up capital to disclose certain information. As of the report, Takaful Emarat has accumulated losses of AED 33,540,000, representing 16% of its paid-up capital. The losses began in 2019 due to higher-than-expected medical claims and lower investment returns, compounded by additional losses from a merger and acquisition project, asset revaluation, and restated financial statements between 2020 and 2022. However, in Q2 2025, the company reported a net income of AED 9.8 million, recovering from a net loss of AED 13 million in the same period the previous year. This recovery was attributed to improved operational efficiency, cost control, and investment strategy, alongside a capital injection in December 2024, which strengthened the company's solvency and financial stability. The company is now positioned to pursue growth opportunities, innovate, and expand its product offerings, with enhanced underwriting capacity and operational flexibility.

On August 6, 2025, a board meeting for Takaful Emarat Insurance PSC was held via MS Teams from 3:00 PM to 4:00 PM. The meeting was attended by four board members, achieving a quorum of 57%. During the meeting, the board approved the company's unaudited interim condensed consolidated financial statements for the second quarter ending June 30, 2025, and discussed business updates and other routine matters. The meeting details were authorized by Adnan Sabaalaish, the Acting Chief Executive Officer.

On August 4, 2025, Takaful Emarat Insurance PSC announced the resignation of Mr. Haroon Ahmad from its Board of Directors, where he served as an independent, non-executive member. His resignation was accepted and became effective on the same date, with personal reasons cited as the cause. The announcement was authorized by Adnan Saba Elaish, the Acting Chief Executive Officer, and was confirmed with a signature and company seal.

Takaful Emarat Insurance (P.S.C), a public shareholding company registered in Dubai, UAE, is subject to Federal Law No. 48 of 2023. The company is listed under insurance companies with registration number 86 since October 14, 2008. The company is planning a board meeting on Wednesday, August 6, 2025, at 3:00 PM UAE time via MS Teams. The agenda includes discussing the approval of the company's unaudited interim condensed consolidated financial statements for the second quarter ending June 30, 2025, along with business updates and other matters. The meeting details and agenda were authorized by Adnan Sabaalaish, the Acting Chief Executive Officer, on August 1, 2025.