Aman Takaful Insurance Company Information

Aman takaful insurance company was established in 2011 as a Kuwaiti shareholding co. (closed) with the objective to provide professional insurance services befitting the developments in the Takaful insurance market and to perform all business insurance and cooperation activities in line with shariah principles, Aman takaful insurance company is equipped to provide both, qualitative and quantitative insurance products and services to meet the needs of the burgeoning islamic market. The company is distinguished in the market by its comprehensive suite of innovative and professional insurance policies that cover the entire spectrum of insurance, viz., car, house, furniture and health for a one-time, fixed and competitive rate. Aman takaful insurance business is running Complying with shariah compliant business and profits are distributed in accordance with pre-agreed ratios as per the takaful agreement. Likewise surpluses or losses are collectively shared. The takaful system has a built-in mechanism to counter any over-pricing policies of the insurance companies because whatever may be the premium charged, the surplus will go back to participants in proportion to their contributions. In Kuwait, due to the demands of an open market policy and competition, the takaful insurance sector witnessed the incorporation of numerous companies in a short period of time. Ever confident of its portfolio of products, Aman takaful believes that a competitive environment will only contribute to the interest of clients and encourage the development of advanced insurance products and services. The company also anticipates the development of a new insurance law that will replace the current one in Kuwait. This initiative, it hopes, will help strengthen the insurance sector to further contribute to the development of the country’s economy.