Takaful, Zurich sign agreement to establish joint venture company

Notes and media contacts

About Takaful:

Takaful is a form of co-operative insurance designed to provide insurance cover to customers in a way that conforms to Islamic Shariah Rules and Principles. Family takaful is the Islamic alternative to conventional life insurance. A distinctive feature of takaful is transparency in regard to profits, its elements of profit sharing, and strict selection criteria on acceptable investments. Due to the lack of available products, many Muslims are therefore left unprotected against losses, representing a huge and currently underserved customer base. Furthermore, there is also a rising interest in takaful products from non-Muslim customers, who are looking out for ethical investments.

Abu Dhabi National Takaful Company was formed in November 2003 as the first takaful operator in the emirates of Abu Dhabi, United Arab Emirates. The Company is licensed by the Ministry of Economy & Commerce and is listed on the Abu Dhabi Securities Exchange (ADX). With its Head Offices in Abu Dhabi and servicing branches across the UAE, the company is licensed to offers all classes of Islamic insurance solutions.

About Zurich Financial Services Group (Zurich):

Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 60,000 people serving customers in more than 170 countries.

Press contact:

Ali Al Dalati
WEBER SHANDWICK l MENA
Villa 17/2, Corniche Al Qurm
P.O. Box 51271, Abu Dhabi, UAE
Tel: +971 2 4494457
Fax: +971 2 4494833