Bourgan Takaful Insurance Co
Symbol Bourgan Takaful Insurance OTC Code N/A Type of Trade GCC
Date of last trade/ date of last hybrid deal:   26 August 2024
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Company Name Bourgan Takaful Insurance Co
Sector Financial Services
Sub-sector Insurance
Legal form Closed Kuwaiti Shareholding Company
Company establishment date 07 June 2006
Company purpose

-    Provide comprehensive and specialized insurance services in line with the development  and progress of the Islamic insurance market.
-    Carry out all Takaful and cooperative insurance activities and services in accordance with the guidelines of Islamic Sharia principles. Ain Takaful Insurance Company has the ability to provide insurance services and products in both qualitative and quantitative manner and is able to respond to the needs and requirements of the burgeoning Islamic market.
-    Provide a comprehensive and innovative insurance package for individuals, covering a full range of insurance policies including: auto, home, furniture, life and health at a competitive and affordable price.
-    Ain Takaful Insurance Company is specialized in providing unique "On Line" insurance services in Kuwait. These services are characterized by the utmost confidentiality, safety, ease of delivery and minimal paperwork in an effort to save time and effort.

Company profile

Ain Takaful Insurance Company was established in 2006 as a Kuwaiti Closed Shareholding Company with a capital of KWD 5 million. The Company’s authorized and fully paid capital is its first line of defence against potential losses until it builds adequate legal and technical reserves. Ain Takaful Company carries out all its activities in compliance with the guidelines of Islamic Sharia principles, so that profits are distributed according to agreed rates in line with the terms of takaful insurance agreements. Similarly, the collective participation in the financial surpluses, losses and damages is shared equally, noting that takaful has an inherent mechanism to adjust to any future increase in the price of insurance policies., due to the fact that the financial surpluses are always distributed to the subscribers prorate to their interests in such policies. The Company’s capital is KWD 5.25 million divided into 52.5 million shares at 100 fils per share.
Goals:
-    To present takaful insurance as the only legally approved form of insurance 
-    To promote the awareness of Takaful in Kuwait through specialized advertising and media programs.
-    Price insurance services using a scientific manner that provides justice and efficiency in order to encourage policyholders to utilize risk prevention methods.
-    Implement and execute continuous training programs with the aim of continuously care for all employees to ensure their follow-up to global changes in the takaful insurance industry and contribute to the creation of specialized professional national human resources. 
-    Ensure that the performance of insurance operations is managed to ensure that insurance surplus is distributed to the participants of the document holders as the best proof of the credibility of the concept of takaful insurance.
-    Create new insurance coverage and develop demand in the market.
-    Gain the confidence of the participants and achieve the company's short-term and long-term objectives.
-    Contribute to solving the problem of scarcity of specialized technical personnel in the insurance industry.
-    Provide the best services throughout the contract coverage period.

Shareholding records Gulf Custody Company (GCC)
Auditor
Date of joining the OTC Platform
Type of deal Private
Sharia'a compliant Yes
Source of Data Various credible sources
Last Updated On 17 December 2022
Location

East - Dhow Tower- Floor 6

Tel

Fax

22477100

Email Address

Website

Disclaimer

If a company wishes to remove the available information from this website, the management of the company can do so through the provided link and by contacting Almowazi telephonically on the numbers provided on its website.

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