Dar Al Takaful and Watania Agree on Potential Merger to Support Expansion Efforts of Both Entities

An agreement was reached for a potential merger between Abu Dhabi-based National Takaful Company (Watania) and Dubai-based insurance company, Dar Al Takaful, as announced in a joint statement from the entities on the 3rd of March 2022 to the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX).

Why it Matters?

The merger hopes to assist the companies in consolidating their market shares in the country’s takaful market and build scale for the new entity through the extension of its geographical reach, products diversification of the existing businesses, and the generation of meaningful cost synergies to enhance profitability. Completion of the transaction is expected in the third quarter of 2022, subject to shareholders and reg...