Dubai – Mubasher: Dar Al Takaful has repaid AED 100 million of acquisition financing to Emirates NBD ahead of schedule, despite the uncertain business conditions due to the coronavirus (COVID-19) pandemic in 2020.

In June 2020, the company has received financing of AED 215 million to complete the acquisition of Noor Takaful, the insurance arm of Noor Investment Group, according to a press release on Wednesday.

The Chairman of Dar Al Takaful, Matar Hamdan Al Ameri, said: "Through the acquisition of Noor Takaful, we increased our synergies, diversified our business, and scaled up the overall market share of our combined Takaful business, resulting in a gross written contribution jump to AED719 million in 2020."

It is noteworthy to mention that in July 2020, the company completed the acquisition of Noor Takaful General and Noor Takaful Family.