Abu Dhabi – Mubasher: The net profits of National Takaful Company (Watania) plunged by 56.9% to AED 7.657 million during the first nine months of 2021 from AED  17.765 million in the corresponding period of 2020, according to the company's interim unaudited financials for the nine-month period ended 30 September 2021.

The company's net takaful contributions increased to AED 169.49 million in the January-September period of 2021 from AED 146.212 million in the same period of 2020.

The insurer's net takaful income decreased to AED 50.673 million in the first nine months of 2021 from AED 68.128 million in the year-ago period.

The basic and diluted earnings per share (EPS) settled at AED 0.05 in the January-September period of 2021, against AED 0.12 in the corresponding period of 2020.

In the third quarter (Q3) of 2021, the company's net profits retreated to AED 647,000 from AED 1.204 million in the same quarter of 2020.

Meanwhile, the company's accumulated losses declined to AED 51.4 million as of 30 September 2021, representing 34% of the capital, from AED 71.2 million as of December 2015.

It is noteworthy to mention that during the first half (H1) of 2021, the company's net profits declined by 57.7% to AED 7.01 million, compared to AED 16.56 million in the year-ago period.