SABB Takaful named best Takaful provider for 2009 in Euromoney Global Awards

The company beat competition from across the world to secure the award for the first time.

The Euromoney Awards, which were presented in London on 24th February, cited SABB Takaful's excellent performance in the short period since its creation:

"It has grown impressively in the past 12 months in Saudi Arabia. During 2008, the insurance provider has taken SR195m ($52m) in contributions, with 80% coming from Family Takaful products."

Dr. Yazid Al Ohaly, Chairman of the Board of SABB Takaful, added, "It is a great honour to be named Best Takaful Provider by Euromoney in their annual, global awards. We are a young business and I believe this award is recognition of the hard work and expertise of our people, combined with the appeal and success of our products. It is also a sign of the growing strength of Takaful in the Kingdom that a Saudi firm should win this award, ahead of strong, established competition from other parts of the Islamic world.

"A compelling proposition and comprehensive product range, practical use of technology, a successful banctakaful model focusing on customer service, innovative marketing campaigns and our people - with a high Saudisation ratio of 70% - have led to the capture of this award. It highlights the broad appeal and comprehensive range of General and Family Takaful products for personal and corporate customers."

David Hunt, Managing Director concluded,"We are determined to maintain the levels of innovation and service that have helped us secure this award. This is no time for complacency and our customers can rest assured that the excellent standards recognized by Euromoney will be developed even further in the future."