Gulf Takaful Insurance Company K.S.C.C. was incorporated as a closed Kuwaiti shareholding company on September 6th, 2004, and is duly registered in the commercial register under reference number 104519, dated 28 November 2004.
Currently, the company’s paid-up capital stands at 10 million Kuwaiti Dinars. Towards the end of the year 2020, Gulf Insurance and Reinsurance Company acquired the majority stake in the company, to become the largest shareholder in the company, along with Wafra International Investment Company, the second-largest shareholder.
The strategic acquisition by Gulf Insurance and Reinsurance Company has significantly contributed to the company’s evolution. The company is now an integral part of Gulf Insurance Group which has an extensive presence in the GCC, MENA region. Gulf Insurance Group is under the ownership of KIPCO and Fairfax Financial Holding Ltd. Following the acquisition, the company’s trade name and logo changed to GIG Takaful – Kuwait. Indeed, this transformation led to the designation of the company as the insurance arm of GIG in the State of Kuwait. Through becoming an integral part of the GIG family, we take pride in our role as a leading operator that offers a comprehensive range of Takaful Insurance services, covering areas including Fire, General Accident, Travel, Engineering, Marine, Motor, Life and Medical. These offerings are in compliance with the provisions and principles of the Islamic Sharia.
We firmly believe that diversity and inclusion are critical to our future and our mission. These principles serve as a cornerstone of creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals but also truly valued for their unique perspectives and talents.
Gulf Takaful Insurance Company K.S.C.C. was incorporated as a closed Kuwaiti shareholding company on 6 September 2004 and is registered in the commercial register under number 104519 dated 28 November 2004.
The current paid-up capital of the company is KD 10 million, and during the end of 2020, Gulf Insurance and Reinsurance Company acquired the majority stake in the company, to become the largest shareholder in the company, along with Wafra International Investment Company, the second-largest shareholder.
The acquisition of Gulf Insurance and Reinsurance Company contributes to developing the company, it now belongs to Gulf Insurance Group, which has widespread in the GCC, MENA region, GIG is owned by KIPCO and Fairfax Financial Holding Ltd.;, following post the acquisition; the company’s trade name & logo changed to become GIG – Kuwait Takaful, and thus the company became the Takaful insurance arm of GIG in the State of Kuwait.
By being part of the GIGgig family, we are proud to be a leading operator offering a full offering full range of Takaful Insurance classes which include:s Fire, General Accident, Travel, Engineering, Marine, Motor, Life and Medical coverage in compliance with the provisions and principles of the Islamic Shariaa law.
We believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability is our priority. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives and talents.
We always are in pursuit of excellence, consistently achieving our business objectives and surpassing our clients' expectations, positioning us as the preferred partner for Takaful Insurance.
Gulf Takaful Insurance Co. K.S.C.C are leading providers of Takaful Insurance providers, catering to diverse industries with the utmost standards of excellence, equity, transparency, and innovative insurance solutions.
Gulf Takaful Insurance Company (GTIC) was founded in 2004 to provide Islamic insurance solutions within the Kuwaiti market. During 2020, the pioneer and front-runner in the field of insurance in MENA Region, Gulf Insurance Group – Kuwait has acquired 65% of the company. GTIC, since then has begun its transformation to Gulf Insurance Group-Takaful (GIG-Takaful) and marching towards excellence.
Today GIG-Takaful is emerging as the Islamic insurance leader in the Kuwaiti market. Our goal is to continue establishing trust within the community whether it’s individuals or corporates that are in need of solid insurance protection for their operations. GIG-Takaful guarantees the highest quality insurance services whether it’s through traditional insurance points of sale or through our advanced digital platforms.
While achieving company’s goals are essential, our ethos heavily focuses on corporate social responsibility by empowering our stakeholders that are liked minded. Finally, I would like to thank all our policy holders, owners, and colleagues for their efforts during this challenging time which has made GIG Takaful to emerge as the superior insurance provider. This is just the start of our long journey and we are confident that there will be many more success stories in the years to come.
Earned a Bachelor of Business Administration in Insurance from College of Insurance – New York City in addition to an Insurance Business Technique Certificate from the United States of America in 1984.
Joined Gulf Insurance Group-Kuwait (formerly known as Gulf Insurance Company) in January 1979. Starting as an Assistant Manager in the Marine & Aviation Department from 1981. Mr Al-Sahhaf was assigned as Manager of the same department in 1987 . In 1991, he was assigned as AGM – Marine & Aviation Department and DGM for the same department in 1998. During July 2007, he was General Manager and Chairman of Gulf Life Insurance Company.
As of 2015, Mr. Al-Sahhaf has held the title as a CEO of Gulf Insurance Group-Kuwait to present day, as well as a board member in GIG-Syria & GIG-Egypt Life Takaful.
Mr. Baghli holds a Bachelor of Social Services from Egypt and a Master of Business Administration from the United States of America. Mr. Al-Baghli joined GIG in September 1978. He is in his current position since March 1998. He was Assistant Manager – FGA from 1981 to 1987, Manager – FGA from 1987 to 1991 and Assistant General Manager – Fire and General Accident Department from 1991 to 1998.
Mr. Yousef Jassim AL Obaid holds a Bachelor of Science degree in industrial engineering from the University of Miami in 1983. Mr. AL Obaid has over 38 years of experience in the financial field. He was a Deputy Governor and a member in the Board of Directors in Central Bank of Kuwait from 2021 till 2022. He was also a Chairman in the Credit Information Network Company (CiNet) in 2009 till 2012. He also holds a certificate from Harvard University in General Management.
With over 20 years of experience working in the insurance industry, Farid Saber joined the Gulf Insurance Group in 2016 to provide strategic guidance to achieve the group’s growth plan and to oversee the group’s ongoing expansion in the MENA Region. Farid is the Assistant Group CEO of GIG and serves on the board of a number of GIG subsidiaries and affiliates.
Prior to this, Farid was the MD and Country Manager for Egypt, Lebanon, and Morocco & North Africa with AIG. Since joining AIG in 2006, Farid assumed a number of leadership roles in the MENA region as Country Manager in Kuwait, Saudi Arabia and the United Arab Emirates. He leads a number of strategic business expansion plans in the region ranging from start-ups in new territories to joint ventures or expansion in distribution channels with banks, telecoms, airlines and other digital channels.
Before joining AIG, Farid held various roles in Claims, Underwriting and Operations with RAK Insurance and Nasco Group in the UAE since 1997.
Farid holds a Bachelor’s Degree in Law and Business Administration from the Lebanese University and is a holder of a Diploma in Insurance from the Chartered Insurance Institute of London (CII).
Mr. Rami Selim Al Baraki holds a Bachelor’s Degree in Commerce in Accounting from Mansoura University, Egypt. He is responsible for the group’s consolidated financial statements and applying the group’s accounting policies and implementing international accounting standards. In addition, he takes care of GIG’s Capital Structure, Treasury, investment reporting and Takaful Unit Operations. He recommends to the Board the Capital Structure type that the Company needs to have for both Short Term (Working Capital) and Long Term purposes (capital investments) in line with GIG’s plans for future acquisitions and expansions. Mr. Al Baraki is also a member of the Board of Directors and the Board Audit Committee of GIG Egypt.
Mr. Essam Al Ansari – Chief Executive Officer – Takaful International Company B.S.C ( GIG Takaful – Bahrain). Mr. Al Ansari has extensive professional experience in the insurance and reinsurance industry in the Kingdom of Bahrain and other Gulf regions. With a background in Executive Management, he has demonstrated leadership in steering companies towards profitability, implementing their vision and mission, and achieving both short-term and long-term objectives. He adeptly manages evolving market demands while upholding a leadership role in the industry, overseeing financial performance, investments, and business ventures. He is a Board Member of GIG Takaful Insurance, Kuwait in addition to being a Director on the Board of the Bahrain Insurance Association. Mr. Al Ansari is a Fellow of the Chartered Insurance Institute (FCII) – United Kingdom and a Fellow CIP from the Australian and New Zealand Institute of Insurance and Finance.
Mubarak Othman Al Ayyar embarked on his professional journey as a financial analyst in asset management at KAMCO Investment Company. With a passion for growth and leadership, he later joined GIG-Kuwait in 2012, where he held significant roles such as Head of Reinsurance Department and Director of Distribution. Beyond his responsibilities at GIG Takaful, Mr. Al Ayyar has served as a Board Member of Bahrain Kuwait Insurance Company and was also a Board Member of Egyptian Life Takaful Company. He proudly holds a bachelor’s degree in Business Administration from Ajman University of Science & Technology, UAE, and he further honed his expertise by acquiring a certificate in insurance from the prestigious Chartered Insurance Institute – UK.
Boasting over 17 years of professional experience primarily within the insurance industry, Venkata Ramana’s expertise lies in risk management, regulatory compliance, solvency & capital adequacy requirements, taxation, and financial planning & analysis. Prior to his current role, he held various managerial positions at Bahrain Kuwait Insurance Company and also contributed his talents to both Deloitte and KPMG. Mr. Ramana is a Chartered as well as a Cost Accountant, an Associate Member (AIII) of the Insurance Institute of India and has earned a (CISA) certification from ISACA. He completed his bachelor’s degree in business and commerce from Khallikote Autonomous College, Berhampur.
Saad Sulaiman Al Therban commenced his career as an investment Portfolio manager at Arzan Financial Group, and subsequently ventured into Aayan Leasing and Investment Company, where he held various managerial positions. He proudly served as the Chief Executive Officer at Force Holding Company, a joint venture between KFH and Aayan Leasing Company. Mr. Al Therban holds a bachelor’s degree in international studies & economics from the American University of Sharjah.
With an illustrious career spanning 23 years in the insurance industry, Mohammad Al Beeshi has held various executive positions at T’azur Takaful, including the role of deputy CEO. His expertise in Underwriting & Claims of Property, Engineering, Liability, Marine, Motor, Life & Medical line business, including Reinsurance, is truly remarkable. Mr. Al Beeshi holds a Bachelor’s degree from Kuwait University and has further distinguished himself by obtaining a Diploma from the Chartered Insurance Institute (Dip CII).
Moustafa currently leads the Finance department at GIG Takaful, where he skillfully manages financial operations, credit control operations, as well as annual budgeting and financial reporting. His journey with GIG Takaful began in 2010, and he has assumed multiple responsibilities and tasks, gradually advancing in his career. Moustafa holds a Bachelor of Commerce degree in Accounting from Alexandria University, Egypt.
Fahad Al Dabbous brings with him a wealth of experience in both corporate and retail at Kuwait Finance House, Kuwait’s largest Islamic bank. His expertise lies in qualitative analysis, capital adequacy, and portfolio management. Additionally, Al Dabbous served as the General Manager of FSB Gulf, a company dedicated to providing software and web design services. He holds a bachelor’s degree in finance from Gulf University of Science and Technology and is an Advanced Certificate holder in Credit Management (ACCM).
Prior to his current position, Abdullah Al Asfour held a managerial position in customer service at GIG Takaful. Before joining GIG Takaful, he worked at FAST Telecommunications Company, where he was responsible for various aspects related to quality control and sales. Abdullah began his career as an auditor at Al Sayer Group call center. He holds a diploma in higher education in biochemistry from the University of Leeds.
Aminah Al Mansour’s journey as a lawyer began at Dar Al-Adl law firm for Legal Consultations, where she prepared contracts and legal documents for various clients. Later, she joined GIG Takaful to head its legal unit, utilizing her expertise in drafting and reviewing legal contracts and agreements, managing regulatory and legal risks, and collaborating with other GIG Takaful departments to ensure legal compliance. Amina holds a Bachelor’s degree in Law from Kuwait University and a Master’s Degree (LLM) from Kuwait International Law School, Doha, Kuwait.
Hana Al Tinawi brings eight years of invaluable experience in the insurance industry, with exposure to working with the big 4 Audit and Advisory consultants. She is a proud holder of a bachelor’s degree in business administration from the esteemed American University of Sharjah and has graduated with distinction, earning a Master of Business Administration from the prestigious Maastricht School of Management. Additionally, she holds a level 3 Certificate in Insurance from the Certified Insurance Institute.
Madhawi Al Sadoun embarked on her career in the Marketing and Human Resources department of a multi-disciplinary Kuwaiti consulting firm with operations in Kuwait and the Middle East. Additionally, she possesses valuable experience in marketing with multiple local brands. Madhawi holds a Bachelor of Arts degree in Political Science and Communications from the University of Massachusetts, Boston, and she is currently pursuing a Master of Business Administration at Gulf University for Science and Technology.
With an impressive 20 year tenure in the insurance industry, Mohammad Al Zain began his career working for a brokerage insurance office, gaining a comprehensive understanding of various insurance facets. In 2004, he joined Gulf Insurance Company as an assistant underwriter and later joined Gulf Takaful Insurance Company in 2005, assuming various roles throughout his tenure.
Heading the compliance department at GIG Takaful and also serving as the Secretary of the Board of Directors, Sahar Muhammad bin Nasser is a dedicated professional with valuable experience gained from her work at Gulf Takaful Insurance Company, the Public Authority for Manpower, and the Ministry of Interior. She holds the International Advanced Professional Certificate in Regulatory Compliance (ICA) and an Advanced International Professional Certificate in Combating Money Laundering and Terrorist Financing (ICA).
Boasting over 15 years of professional experience primarily within the Islamic finance industry, Mr. Mostafa Abdelhady’s expertise lies in Shariah Research, Shariah Audit. Skilled in analysis, communication, planning, Islamic Banking and Shariah asset management. Prior to his current role, he held various managerial positions at Dar Al-Ifta in Egypt, Ministry of Finance (Egypt) – Sukuk Central Unit and Al Baraka Bank Egypt. He holds PDSA Professional Diploma in Shariah Auditing from (CIBAFI) and CSAA Certified Shariah Advisor and Auditor from (AAOIFI) and Certified Islamic banking Expert from Council of Arab Economic Unity. He is a holder of a bachelor’s degree in accounting from Ain Shams University and bachelor’s degree in Arabic and Shariah Studies from Dar Al Uloom College, Cairo University, and he is currently pursuing a master thesis in Islamic studies at Higher Institute of Islamic Studies, Egypt.
Lulwah Al Marzouq brings over eight years of entrepreneurial experience in event management, where she gained crucial skills in communication and client relations.
Now, at GIG Takaful, she brings a strategic vision to corporate communication and investor relations, nurturing meaningful engagements.
Embarking on his journey as a training coordinator at Kuwait Credit Bank, Othman Al Mudhaf later became the head of the development department. With extensive experience in conducting training needs analysis and evaluating training courses, Mr. Al Mudhaf proudly holds an official license from Canada Global Consulting & Training Centre as an Instructional Designer. He is a graduate with a bachelor’s degree in business administration from the American University of the Middle East, and he further honed his skills by obtaining an MBA from the same institution.
