Dubai – Mubasher: Takaful Emarat – Insurance announced the resignation of its CEO Wael Al Sharif, according to a bourse statement.
Al Sharif resigned from his position on 22 August 2023 due to personal reasons.
In the first half (H1) of 2023, the DFM-listed insurer reported net losses valued at AED 794,000, an annual plunge from AED 7.73 million.
Basic and diluted loss per share hit AED 0.005 in H1-23, marking a year-on-year (YoY) drop from AED 0.052.
Insurance revenues declined to AED 102.63 million as of 30 June 2023 from AED 201.47 million in H1-22.
Last February, Takaful Emarat announced that its planned merger with Islamic Arab Insurance Company (Salama) had been called off.
In October 2022, Salama obtained the initial approval for the potential merger with Takaful Emarat.
