Concepts of Takaful and Retakaful more important than ever to GCC consumers

The various Islamic financial services offered through local, regional and international organizations include General Takaful, Family Takaful, Retakaful, and Fund Management. These services have become a cornerstone for those wishing to plan for their future while complying with Islamic Sharia'h law.

Solidarity, one of the largest Takaful companies worldwide, provides Family Takaful saving, investment and protection plans ranging from children education, marriage, retirement, and wealth accumulation.

To strengthen its current position in the GCC market by providing competitive and equitable underwriting standards, Solidarity - Family Takaful announces the appointment of Dr. Farrukh Waheed Khan as Life Underwriting Manager.
Prior to joining Solidarity, Dr Farrukh was the Head of Takaful Underwriting in National Company for Cooperative Insurance, based in the Kingdom of Saudi Arabia for almost two years.

"The appointment of Dr. Khan brings significant experience in Medical Underwriting and Claims Management, which come along with many decisions made to implement Soldiarity's strategy in strengthening the risks and protection analysis tools, by getting onboard the expertise who has the ability to provide clients with the protection benefits that match their individual needs" said Rob King, General Manager, Solidarity-Family Takaful.

Dr Khan held several key positions prior to joining Solidarity - Family Takaful. He was the head of Takaful Underwriting for National Company for Co-operative Insurance (KSA). In 1996, he joined Commercial Union Life Assurance Company in Pakistan as Chief Manager. He also worked for American Life Insurance Company Limited in Pakistan as their Chief Underwriter.

Dr. Khan has a Bachelor Degree in Medicine and Surgery from the University of Sind in Pakistan and is an Associate, Academy of Life Underwriters. He is recognized as an expert in Medical Underwriting and Claims Management, of Life and Health Insurance. He has in-depth experience in establishing and managing Life Underwriting Office and Providing Underwriting training and development to Underwriters, Salespersons and Medical Examiners.

The appointment of Dr. Khan came with the new launch of Solidarity - Family Takaful protection benefits which include Takaful Protection on Death, Takaful Protection for Critical Illness and Takaful Protection for Waiver of Contributions on Death.

The new protection benefits will provide consumers with one of the best Islamic financial planning programmes that are tailored to satisfy each individual need.