- CEO
- Husain Ali Mohamed Al-Attal
- Sector
- Finance
- Industry
- Multi-line insurance
- Address
- Kuwait City Kuwait
- IPO Date
- Dec 12, 2004
- Business
- First Takaful Insurance Company K.P.S.C. is a Kuwait-based Islamic insurance company that provides a broad range of Sharia-compliant cooperative insurance (takaful) and reinsurance solutions to individual, commercial, and institutional clients. Founded in 2000 as the first dedicated takaful operator in Kuwait and headquartered in Kuwait City, the company operates through two primary divisions: General Takaful and Family & Medical Takaful. Its core product and service portfolio comprises motor insurance, including comprehensive motor takaful, third-party liability, road assistance, and agency repair coverage; property insurance, encompassing fire and allied perils, property all risks, business interruption, and residential contents protection; marine and aviation insurance, covering marine cargo, inland transit, hull, and freight liabilities; engineering insurance, including contractors all risks, erection all risks, machinery breakdown, and electronic equipment insurance; liability insurance, featuring public and product liability, professional indemnity, directors and officers liability, workmen compensation, and employers liability; and financial insurance lines, including fidelity guarantee, money-in-transit, and safe burglary policies. Within its Family and Medical division, the company provides group and individual health insurance with direct-billing medical network access; group life and personal accident takaful; credit life protection; and customized long-term savings and family protection plans. In recent developments, First Takaful Insurance Company has accelerated its digital transformation strategy by deploying automated online policy issuance portals and digital claims processing platforms for retail motor and health insurance; optimized its underwriting risk portfolio to expand high-retention corporate and commercial takaful lines; aligned its capital adequacy, risk governance, and solvency frameworks with updated regulatory guidelines enacted by the Kuwait Insurance Regulatory Unit; and restructured its reinsurance arrangements with leading regional and international reinsurers to enhance underwriting capacity and reinforce policyholder surplus sustainability.