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Holding
Watania International Holding PJSC (‘WIH’ or the ‘Company’, formerly known as Dar Al Takaful PJSC) is a listed entity trading on the Dubai Financial Market under the ticker WATANIA (previously DARALTAKAFUL). The Company obtained its commercial license on 23 July 2008 and commenced operations on 1 September 2008.
In 2020 Dar Al Takaful acquired Noor Takaful and in July 2022, the National Takaful Company (Watania) merged with Dar Al Takaful to create one of the largest Takaful entities in the UAE. In March 2023, the name of the holding company, Dar Al Takaful, was changed to Watania International Holding PJSC and its Takaful license was cancelled as it became an investment holding company that aims to expand its footprint through Shari’ah compliant investments in the Takaful and Takaful services sector.
Founded in 2008, the Company secured its UAE Takaful license in July of the same year and commenced operations in September.
After years of successful growth and development, Dar Al Takaful acquired Noor Takaful in 2020. This strategic move broadened the Company’s portfolio, demonstrating a commitment to growth and market influence. Subsequently, in July 2022, National Takaful Company (Watania) merged with Dar Al Takaful, resulting in the establishment of one of the largest Takaful entities in the UAE.
In March 2023, the holding company, Dar Al Takaful, underwent a strategic rebranding, emerging as Watania International Holding PJSC. This transformation was not merely symbolic; it represented a fundamental shift in the Company’s identity and strategic objectives. Concurrent with this rebranding, the decision was made to relinquish the insurance license. This transitioned the Company into an investment holding entity, aiming to expand its footprint within the UAE and regional Takaful and Islamic financial services sectors.
DAT and Watania merger creates Watania International Holding as one of the leading national Takaful providers in the UAE with a truly national presence
Dar Al Takaful acquires 100% of Noor Takaful – significant potential synergies join to create a strong platform to support organic growth of a new entity
• National Takaful Co. (Watania Takaful) founded by 4 institutional investors
• Floated 55% of shares on ADX in a seven times oversubscribed IPO
Noor Takaful launched as two operating entities (Noor Takaful and Noor Family); abiding by 2007 law to separate life and non-life products
Dar Al Takaful (DAT), established as an Islamic insurance company providing Shari’ah compliant takaful solutions for personal and business needs
in the UAE
Through the transformative restructuring within Watania International Holding that took place in March 2023, its insurance license was cancelled, and it became an investment holding company. Its fully owned operating companies or subsidiaries, Watania Takaful General and Watania Takaful Family continued to operate as Takaful providers with significant opportunities for growth.
We are a Takaful business that is based on solidarity. We consider our Policyholders perspective first in everything we do.
We always do what is right. We respect the trust placed on us, and our commitment to honesty and transparency always comes first.
Our clients deserve listening, understanding, and responsible action. We are solutions driven.
We strive for simplicity in all things: products, processes, and relationships. It makes our work efficient, and relationships meaningful.
supervision committee
Watania Takaful General PJSC and Watania Takaful Family PJSC operate in accordance with the teachings of the Islamic Shari’ah principles and within the provisions of UAE Federal Law No. 6 of 2007 relating to Takaful companies and Takaful agents and the Memorandum and Articles of Association of the companies.
Their business operations are conducted with support from an experienced and deeply knowledgeable internal senior Shari’ah VP and oversight of an Internal Islamic Shari’ah Supervision Committee (ISSC) comprising the following leading Islamic scholars.