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Takaful Emarat has successfully completed a 185 million AED (50.4 million USD) increase in its share capital, bringing it to 210.652 million AED (57.3 million USD).
This operation follows the Emirati insurer's improved profitability, illustrated by a net profit of 8.8 million AED (2.4 million USD) in the third quarter of 2024, against a net loss of 851 000 AED (231 658 USD) in the same period of 2023.
This upturn was made possible by the actions taken by the company to write off its accumulated losses, including the reduction of its share capital to 25.652 million AED (6.9 million USD) in October 2024.
