In a groundbreaking initiative that reflects a deeper commitment to ethical responsibility and financial empowerment, Takaful International Company proudly announces the distribution of Surplus to its valued policyholders — an unprecedented step in the Takaful market.
This announcement underscores the strength and sustainability of the company’s cooperative model, built on the principles of mutual support, Sharia compliance and transparency in the management of the insurance portfolios.
These distributions are made in accordance with the business model adopted in the Kingdom of Bahrain for Takaful companies, which mandates the distribution of any surplus from the Takaful funds—comprising contributions (premiums)—in excess of the funds' requirements, after setting aside the necessary reserves and technical provisions. The surplus in Takaful insurance companies represents the remaining balance in the participants’ fund after accounting for total contributions, investment returns, and any other entitlements, following the deduction of the company’s management fees (Wakala fee), the Mudarib’s share, settlement of approved claims, payment of re-Takaful contributions, and any other obligatory charges.
The surplus distributions cover all motor and property policies for the underwriting year 2024, regardless of the claims history associated with these policies.
Takaful International Company maintains a stable financial position and holds the highest credit rating in the Kingdom, having recently been assigned a credit rating of A- by the global rating agency AM Best.
“Our slogan for this campaign, ‘Powered by Sharing’, is not just a phrase — it’s a philosophy we live by,” said Mr. Essam Al-Ansari, Chief Executive Officer of Takaful International Co.. He further added, “We are proud to announce the distribution of Surplus to our policyholders — a move that not only reflects our strong financial standing but also the true spirit of Takaful. At the heart of this initiative is our belief that when we do well, our policyholders should benefit directly. This is what sets us apart in the insurance industry — our success is shared, not siloed. We thank our customers for their continued trust and invite them to enjoy the rewards of a system that’s designed to serve them.”
The distribution process is carried out under the supervision of the company’s Shari’a Supervisory Board, ensuring that all procedures comply with the principles and provisions of Islamic Shari’a. The process is conducted within a framework of transparency and fairness, and guided by the independent actuary, who reviews the company’s technical data.
Dr. Shaikh Abdullatif Mahmood Al- Mahmood, Sharia’a Supervisory Board Chairman commented:
“The Surplus distribution reflects the true nature of Takaful — one rooted in mutual benefit, social solidarity, and justice. It reinforces the ethical values we champion and demonstrates the sustainability of our model. We are pleased to see these values translated into direct benefit for participants.”