"Takaful Emarat" was established through a strategic partnership between "Al Buhaira National Insurance Co.” (UAE) and the Austrian "UNIQA Group" to provide insurance products that cater for the region's needs of health insurance, mutual insurance and money making.
The Dubai based company, which has a paid up capital of AED 150 million, aims at providing its services to the markets of Gulf, Arab and Islamic countries. The founders hold 45% of the company's share capital, divided among "Al-Buhaira National Insurance - 20%; "UNIQA Group" - 15% and another 10% for other professional investors.
The company seeks to raise insurance awareness of individuals, and to develop for the first time in the region, insurance products from an Islamic perspective, which comply with Islamic Shari’a.
‘Takaful Emarat’ will be the first of its kind in providing Islamic insurance products and services that cover Life & Medical in GCC and the Middle East. Therefore, taping such a virgin market creates multiplying opportunities for growth and expansion, especially in light of the growing demand for insurance products that comply with the Islamic Shari’a laws.
'Takaful Emarat" will provide its policy holders with a comprehensive insurance coverage inside and outside the region, which entitles them to a wide range of health care services through an extensive medical network.
The company has new programs developed by specialized teams of insurance experts following an in-depth study of the markets in order to satisfy the growing needs of UAE nationals & expatriates families, government departments and foreign & local companies.
With branches in Abu Dhabi, Dubai and Sharjah; the company aims at entering the Middle East market, North Africa and the Islamic countries.
"Takaful Al Emarat" got the approvals of the Economic Development Department, in Dubai, the Ministry of Economy, Insurance authority and Commodities and Securities Authority to practice the activities of money making, mutual, life and health insurance.
The company is listed at Dubai Financial Market (DFM) under the name TAKAFUL-EM.