Al Khaleej Takaful Group Gets Approvals to Distribute Excess Insurance to Subscribers For 2016

November 19, 2017

H.E. Sheikh Saoud Abdulla Mohamed Jabor Al-Thani - CEO of Alkhaleej Takaful Insurance Company- announced that the company has obtained the final approvals from the Fatwa and Shari'a Supervisory Board and the Central Bank of Qatar to distribute insurance surplus to the participants who did not claim it in 2016.  According to the approved distribution policy, where it was decided to distribute insurance surplus of 5.64% of the total contributions earned which had no claims, to all beneficiaries (companies and individuals) starting from December 2017.

His Excellency also stated that the year 2016 was the first year to distribute an insurance surplus to beneficiaries after offsetting the accumulated deficit in the subscriber’s fund, since the approval of the General Assembly and regulatory bodies to transfer the company's activity from a conventional system to the Islamic system at the beginning of 2010. The insurance surplus stands at QR 23,848,452 as of 30/09/2017, and the company's management shall, by God's will, continue to follow all means to maintain shareholder and subscriber funds to achieve the best results for them.

The management of the company also wishes to thank all its customers for their confidence and continuity in dealing with the company, and promises them with further development in the business to serve them and guarantee their rights under the supervision of the supervisory authorities in the country.