The Islamic Arab Insurance Company (SALAMA) has announced the elections of His Excellency Humaid Mohammad Obaid Alqutami and Mr Fareed Lutfi Al Harmouzi to its Board of Directors, effective 2 July 2026.
The Financial Services Authority (OJK) has announced that 10 insurers were in the process of establishing full-fledged takaful companies as at 29 June 2026.
Moody's Ratings (Moody's) has assigned a B1 insurance financial strength rating (IFSR) to Al-Daman Takaful Insurance Company (Al-Daman Takaful). The outlook is 'Stable'.
The insurance sector in Algeria reported a total revenue of DZD57.3bn ($430m) in the first quarter of this year, rising marginally by 0.2%, compared to 1Q2025, according to data from the National Insurance Council (CNA).
Moody's Ratings (Moody's) has upgraded Wethaq Takaful Insurance Company's (Wethaq) Insurance Financial Strength Rating (IFSR) to 'B1' from 'B2', and changed the outlook to 'Positive' from 'Negative'.
Moody's Ratings (Moody's) has assigned a 'Ba2' Insurance Financial Strength Rating (IFSR) to First Takaful Insurance Company (First Takaful). The outlook is 'Stable'.
Ilaf Takaful Insurance Company has demonstrated a track record of sound operating performance, reporting a good balance of earnings between its policyholders' and shareholders' funds in recent years, notes AM Best.
Amana Takaful has concluded a rights Issue from which the company raised more than LKR1bn ($3m). The offer was oversubscribed by 68.8%, signalling solid investor confidence in the company.
Toronto-headquartered Manulife, a leading international financial services provider, is seeing growing demand for Shariah-compliant wealth planning solutions across the the Middle East, North Africa, and South Asia (MENASA) region, as affluent families place greater emphasis on succession planning, family continuity and long-term wealth preservation, according to Ms Bonnie Qiu, CEO of Manulife Global High-Net-Worth.
Shareholders of Al Rajhi Takaful Company, one of the biggest insurers in Saudi Arabia, have approved an increase of the company's capital by 100% to SAR2bn ($533m). The approval was given at an extraordinary general meeting on 21 June.