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Thursday, November 12 - 2009

Solidarity strengthens division management team for further growth

Solidarity, one of the largest Takaful companies in the world, has appointed Noel D'Mello as Deputy General Manager for the Family Takaful division.

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  • Noel D'Mello and Rob King.
    Noel D'Mello and Rob King.
Noel will assist in the management and operation of all aspects of the Family business. His core objective is to provide a competitive and comprehensive range of family related Takaful products, primed to the highest levels of service and suitability for individual customers' needs, across the globe.

Designed to operate in full accordance with the guiding principles of Islamic Shari'ah, the Solidarity Takaful Company is one of the top ten companies in the Arab world in terms of paid up capital. Solidarity is set to capitalize on the success of its opening years by continuing its expansion in to key international markets. To strengthen its current position and achieve the expansion strategy, Solidarity is in the process of increasing its paid up capital to US$ 275 million, and its authorized capital to US $500 million.

"Solidarity's mission is to be the leading Takaful Company globally by providing a wide range of saving, investment and protection Islamic insurance products to the highest degree of service possible," said Rob King, General Manager, Solidarity - Family Takaful Division.
"The Takaful system is unique and relies heavily on the virtue of fairness to its consumers, the society and to the entrepreneurs bringing these products into the market." Added Mr. King

On his appointment, Mr. Noel D'Mello commented "Takaful, in its intended spirit, is a worthy social cause and attractive business opportunity. Family Takaful or Life Islamic Insurance provides prudent financial security along with investment opportunities not only to its policyholders, but also to the entire community."

"I joined Solidarity senior management team as head of operations for the Family Takaful division since inception. As a group of experts, my colleagues and I were able to provide individuals in the international market with competitive means to self plan for their financial future; with the fact that these means comply with Islamic Sharia'h rules."

Mr. D'Mello has over 15 years experience in the life insurance industry in the GCC, where 6 years in direct sales and 9 years in Management, giving him a balanced exposure to both sides of operations within a successful life insurance company. He is familiar with the customs and tradition of the region which will help in understanding individual customer's needs and designing plans to meet those needs.
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Notes and media contacts

For more information, please contact:
Bassel Hanbali - Head of Corporate Communications & Marketing, Solidarity

Or

May Marzooq - Marketing Communications Officer
Tel: +973 17 578777
Fax: +973 17 578787

About Solidarity
Established as one of the leading companies in the Arab world with US$ 100 million in paid up capital, Solidarity is one of the largest Takaful Company in the world. Solidarity has announced a capital injection to its paid up capital (US$100 million) of US$175 million increase and to its authorized capital (US$ 300 million) of US$200 million. The capital increase was approved at the company's Annual General Meeting held in the Kingdom of Bahrain.

Solidarity is a company incorporated under the laws and regulations of the Kingdom Bahrain. Our main purpose is to focus on providing Takaful products that comply with Islamic Sharia'h across the GCC and selected Middle Eastern, Asian, and European countries.

Solidarity has been set up in direct response to the growing demand for Family and General Takaful products across the region. Realizing the scope of this unique and ever-expanding Islamic system of insurance and assurance, Solidarity is poised to lead the way in providing a diverse range of prudent saving and investment opportunities with Takaful Protection Benefits - designed to give the ultimate peace of mind - ideally suited for retirement, wealth accumulation, education, and other family and individual plans. Along with the family related plans, Solidarity provides the utmost safety and protection against the widest possible risks through a range of General Takaful products like: Motor, Home, Marine, and health.

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