Methaq Takaful Insurance Company
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About the company
Methaq Takaful Insurance P.S.C. is an Abu Dhabi takaful (Islamic insurance) operator incorporated in March 2008 and listed on the Abu Dhabi Securities Exchange since May 2008. It writes mainly motor takaful, plus medical and other classes, through its head office in Abu Dhabi and branches in Dubai and Al Ain, and owns an investment property through its subsidiary Tazure Property. Its shares have been suspended from trading since June 2023. At 31 December 2024 accumulated losses were AED 945m and equity was negative, the auditor issued an adverse opinion on the going concern basis, and a rights issue in early 2025 raised the share capital to AED 466,674,434.
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Year-end price history
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Dividend history
No DFM dividend records for this company since 2025.
Source: DFM dividend distribution records (2025 onwards). Yield uses the close before the ex-date.
Announcements
No announcements yet.
Source: DFM disclosures. Times are Dubai time.
Income Statement
Values in AED · click any row to chart the metric, click again to collapse
| 2023 | 2024 | |
|---|---|---|
| Insurance & Takaful Revenue | 387.3M | 458.3M |
| Insurance Service Expenses | -755.2M | -539.0M |
| Net Reinsurance Result | -6.7M | 7.5M |
| Insurance Service Result | -374.6M | -73.2M |
| Net Investment Income | 709,796.00 | 2.0M |
| Net Insurance Finance Result | 16.4M | 5.3M |
| Net Insurance & Investment Result | -357.5M | -65.9M |
| Other Operating Income | 17.5M | 12.1M |
| Other Operating Expenses | -37.8M | -27.1M |
| Pre-Tax Income | -377.8M | -80.9M |
| Income Tax Expense | 0.00 | 0.00 |
| Net Income | -377.8M | -80.9M |
| Net Income (Owners of Parent) | -377.8M | -80.9M |
| Non-Controlling Interests | 0.00 | 0.00 |
| EPS (AED) | -2.52 | -0.54 |
| Shares Outstanding | 150.0M | 150.0M |
Balance Sheet
Values in AED · click any row to chart the metric, click again to collapse
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| Cash & Equivalents | 7.7M | 4.3M | 6.7M |
| Investment Securities | 17.7M | 800,521.00 | 1.7M |
| Insurance Contract Assets | 1.7M | 0.00 | 0.00 |
| Reinsurance Contract Assets | 101.3M | 171.6M | 150.6M |
| Trade & Other Receivables | 8.5M | 3.0M | 3.6M |
| Other Financial Assets | 6.4M | 33.9M | 11.4M |
| Property, Plant & Equipment | 1.4M | 927,030.00 | 1.5M |
| Investment Properties | 59.0M | 59.0M | 59.0M |
| Total Assets | 203.7M | 273.4M | 234.5M |
| Insurance Contract Liabilities | 417.2M | 959.0M | 1.0B |
| Reinsurance Contract Liabilities | 89.9M | 29.1M | 378,478.00 |
| Trade & Other Payables | 20.2M | 4.4M | 11.2M |
| End-of-Service Benefits | 3.6M | 2.7M | 3.1M |
| Total Liabilities | 530.8M | 995.3M | 1.0B |
| Share Capital | 150.0M | 150.0M | 150.0M |
| Reserves | 9.2M | -7.6M | -7.5M |
| Retained Earnings | -486.3M | -864.2M | -945.2M |
| Equity (Owners of Parent) | -327.1M | -721.8M | -802.8M |
| Non-Controlling Interests | 0.00 | 0.00 | 0.00 |
| Total Equity | -327.1M | -721.8M | -802.8M |
Cash Flow
Values in AED · click any row to chart the metric, click again to collapse
| 2023 | 2024 | |
|---|---|---|
| Operating Cash Flow | -433,955.00 | 582,464.00 |
| Investing Cash Flow | -3.1M | 1.9M |
| Capital Expenditure | -68,353.00 | -1.1M |
| Financing Cash Flow | 0.00 | 0.00 |
| Free Cash Flow | -502,308.00 | -485,918.00 |
Insurance & Takaful Revenue
Insurance Service Result
Net Investment Income
Net Insurance & Investment Result
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Market Information
- 2025-10-03 FY 2024 Financial Results PDF ↓