UAE: Takaful grouping in the pipeline

Source: Middle East Insurance Review | Jun 2015

Takaful operators are in talks with the UAE’s Insurance Authority (IA) to set up a dedicated association, even as calls are being made for such a grouping.

“Takaful companies should have our own association since we’re different and younger than the conventional insurance market,” a senior takaful executive told Middle East Insurance Review. We are in dialogue with the IA on this and they are looking into it.”

A report by Abu Dhabi-based Truth Economic Consultancy has called for takaful operators in the UAE to band together to set up a grouping which would champion their interests.

Of the 60 insurers in the UAE, 10 are takaful providers.

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.