UAE's Dar Al Takaful and Watania Announce Completion of Merger  

UAE's Dar Al Takaful and Watania Announce Completion of Merger  

https://islamicmarkets.com/articles/uae-s-dar-al-takaful-and-watania-announce-completion-of-merger
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Dubai-based Dar Al Takaful (DAT) and Abu Dhabi-based Watania have announced the completion of their merger effective the 1st of July 2022 to form DAT, with total issued share capital of AED 260 million (USD 70.7 million).

Why it Matters?

Through the merger, DAT benefits from combined expertise, broad infrastructure and partner network, cost and revenue synergies, and improved IT platforms. With the Takaful industry consolidating, the company aims to leverage its business model to optimise sales channels and cross-selling opportunities through expanding geographic coverage and improving re-takaful and reinsurance conditions.

Details

The role of Chief Executive Officer (CEO) of DAT will remain held by Gautam Datta. Wata...