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Dar Al Takaful, one of the leading takaful providers in the UAE, is in the process of changing its trading name to ‘Watania International Holding PJSC’, an investment holding company, following shareholder approval.
Following the strategic brand architecture review following the completion of the merger of Dar Al Takaful and National Takaful Company (Watania) on 1 July 2022, the new name is reflected in a new corporate identity incorporating all business lines under the Watania Takaful name.
The new corporate identity underpins the significant transformation that has taken place throughout the organization following the merger. The investment holding company and its two subsidiaries now share a common logo style that is rooted in the culture, heritage and purpose of the two combined companies and combines its best features with Watania’s stylistic typography and Noor combination of infinity symbols.
two subsidiaries
Earlier this year, the trade names of the company’s two subsidiaries were changed from Noor Takaful General PJSC (automotive and non-automotive) and Noor Takaful Family PJSC (life and medical) to Watania Takaful General and Watania respectively after obtaining the necessary approvals. Takaful Family .
There will be no immediate change to the company’s ticker symbol on the Dubai Stock Exchange (DFM), which will remain ‘DARTAKAFUL’. Subject to the completion of further regulatory condition precedents, the company will change its stock symbol and will share a follow-up announcement with shareholders in due course.
Dr. Ali Saeed Bin Harmal Aldhaheri, Chairman of Watania, said: “Watania was established to provide an alternative to traditional insurance companies in the UAE. Building our future in a globalized manner. Therefore, as an investment holding company, one of Watania International Holding’s main objectives is to strengthen the takaful industry by building a sustainable ecosystem comprising a series of interrelated businesses for the All stakeholders – policyholders, shareholders and their members create value.
“At the same time, our operating subsidiaries Watania Takaful Family and Watania Takaful General will continue to advance the current mature takaful business offering motor and non-motor policies for individuals and organizations respectively, as well as family takaful (life and medical) policy.
forward-looking strategy
“An ambitious forward-looking strategy is being developed for the holding company to present to our shareholders in due course, with a focus on exploring investment opportunities in different aspects of the industry, delivering sustainable value and greater profitability to our shareholders s return.”
Gautam Datta, CEO of Watania, said: “Looking ahead, our new name and brand identity embrace the sense of purpose, energy and enthusiasm of our team, network partners and customers. New Milestone, we leverage “the best of both worlds” to become a leading data-led business that embraces change, invests in innovation, empowers customers to take control of their future, and seeks new challenges and capitalizes on a dynamic and evolving market.
“The new name and brand identity are reflected across all of our businesses and our purpose will guide the way our two subsidiaries operate and engage with customers based on a commitment to resolve claims faster, which also inspires and empowers our Employees deliver a consistently high quality of service to our policyholders and our network in delivering products and services. Ultimately, this creates value for all of our stakeholders, including by adhering to best practices in all aspects of our operations And comply with the principles of Sharia law to provide the best returns for shareholders.” — trade arab news agency
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