Bahrain's Arab Insurance Group (ARIG) is in discussions to take full ownership of Dubai-based Islamic reinsurer Takaful Re, as regulatory moves add pressure on firms in the overcrowded Gulf insurance sector to consolidate.
Leading insurance firm Arig has registered a 41 per cent increase in net profit to $12.6 million for the first nine months of the year, compared with $9 million for the same period last year.
The growth was achieved on the back of
Standard & Poor's (S&P) has reconfirmed BBB 'Stable' long-term counter-party credit and insurer financial strength ratings to Takaful Re Limited (TRL), a Dubai International Financial Centre-based re-takaful operator.
Takaful Re has been awarded the Best ReTakaful Operator of the year at the Islamic Business and Finance Awards.
'This award is now widely considered as a benchmark of excellence in the industry,' said Takaful Re chief executive off
Takaful Re, a leading Islamic reinsurance company, has been awarded "The Best Takaful Advocacy” of the year at the recently held London Takaful Summit.
The award was handed over to chief executive officer Chakib Abouzaid.
"We are o
Takaful Re, a leading capitalised Islamic reinsurance company, has appointed Khaled M. Khaleif, a Libyan national, as the new finance manager.
Khaleif, a holder of Bachelor degree in Business Administration from the University of Houston,
Takaful Re said it has been voted "The Best Re-Takaful Company” at the International Takaful Awards 2009, in recognition of its significant contribution to the development of Re-Takaful market.
The award was handed over to Chakib Abouzaid,
Takaful Re, one of the leading Retakaful providers in the region, recently conducted a Family Takaful Workshop, as an integral part of its strategy and commitment of developing the Takaful industry.
The two-day workshop, which was held
The 3rd edition of the World Islamic Insurance Directory (WIID) has been published jointly by leading retakaful operator, Takaful Re and Middle East Insurance Review Incorporating Global Takaful.
The number of operators in the Takaful mark
Takaful Re Limited (TRL) has reported net profits of $11.6 million in 2007 compared to $1.3 million in 2006.
From the second year of operation, TRL’s Board of Directors has recommended a cash dividend of 5 per cent on the company’s