Dar Al Takaful PJSC, an Islamic Insurance & Reinsurance Company, has announced its partnership with Al Zaabi Insurance Brokers in Umm Al Quwain. The partnership aims to extend service of Dar Al Takaful to the Emirate of Umm Al Quwain, securing revenue streams and improving market share, but also giving the resident of the Emirate the convenience of availing Dar Al Takaful home, travel and motor Sharia-compliant insurance services.
Takaful is a term used to describe insurance policies based on Sharia principles, based on the tenets of Mutual Protection and Responsibility. Dar Al Takaful’s aim is to grow sustainably in Umm Al Quwain insurance market, maintain an ethos of excellent service and consumer centricity, improve brand equity, and be recognized in Umm Al Quwain as the best Takaful service provider.
Al Zaabi Insurance Brokers commenced operations in 2009, and has since acted as a broker for large local insurance companies, achieving premiums of AED 10,000,000 in its first year. “Al Zaabi Insurance Brokers have an impeccable reputation and excellent contacts in Umm Al Quwain, and are ideal partners for us to extend our services through. The partnership will improve our reputation and brand in the market and will offer the residents and citizens of Umm Al Quwain tailored Takaful services that hold true to the fundamentals of Islamic Shariaâ€, said Mr. Ayman Al Ajmi, CEO, Dar Al Takaful.
“Al Zaabi Insurance Brokers will represent our offerings in Umm Al Quwain, and will exclusively sell our motor vehicle polices in the Emirate. In addition, they have shown their professionalism and commitment by agreeing to follow our marketing strategies and positioning. We are confident of our ability to add substantial value to Al Zaabi Insurance Brokers’ portfolio and also to our customers in Umm Al Quwain, and we look forward to a synergetic partnership,†Mr. Al Ajmi added.
Dar Al Takaful launched the world’s first Sharia–compliant Bloodstock policy, extending a new insurance product to horse owners across the GCC. The policy guards against financial losses from deteriorating health or accidents. The company will soon be extending this policy to cover racing camels – an intrinsically valuable part of the UAE’s culture and heritage.
Mr. Kutthib Al Zaabi, Owner of Al Zaabi Insurance Brokers, noted, “Umm Al Quwain may be considered a niche market by many, but it has its own consumer needs and requirements. It needs to be explored, and its customers’ requirements need to be addressed. Our partnership with Dar Al Takaful is a huge opportunity for us to offer an excellent portfolio of tailored services to our customers, both current and future. We remain committed to providing high quality services to our clients, many of who have been loyal to us for a long time. Dar Al Takaful offers the right mix of Sharia compliant insurance products and services for us to continue offering excellent value to our patrons, and we look forward to a sustainable, long term association.â€
