Between 2023 and 2025, Kuwait Islamic Takaful Insurance Company ranked among Kuwait’s top five takaful insurers, marking a period of steady and balanced transformation.
Kuwait Islamic Takaful Insurance Company K.S.C.C., established in 2003 under the name National Takaful, reached a major milestone on 27 May 2024 with its rebranding following the successful acquisition by the leading company, Kuwait Insurance Company K.S.C.
Since 2023, the company has undergone a strategic transformation aimed at strengthening its financial position, broadening its product offerings, and introducing innovative operational practices. Through these initiatives, the company continues to deliver protection solutions tailored to Kuwait’s market and evolving customer needs, reinforcing its long-term growth strategy and competitive standing within the national insurance sector.
A New Era of Growth and Identity
The rebranding of Kuwait Islamic Takaful Insurance Company in May 2024 marked more than just a visual transformation. It signified a renewed commitment to transparency, innovation, and purposeful growth. Building on the strong legacy of Kuwait Insurance Company (KIC), one of the nation’s leading insurers, Kuwait Takaful now proudly serves as ‘the Takaful arm of KIC’, combining ethical foundations with modern relevance.
Following KIC’s strategic acquisition in October 2023 and a capital injection of KWD 5 million, Kuwait Takaful’s paid-up capital increased to KWD 15 million by the end of 2024. This strengthened partnership enhanced the company’s solvency position, laid the foundation for sustainable growth, and opened new opportunities for operational and investment excellence.
Strong Foundations, Measurable Progress
Between 2023 and 2025, Kuwait Islamic Takaful Insurance Company ranked among Kuwait’s top five takaful insurers, marking a period of steady and balanced transformation. Non-motor segments recorded exceptional performance, growing 84% in 2024 and a further 29% in 2025, which drove overall business volumes 7% higher by September 2025 and reinforced the company’s consistent upward growth trend.
This growth enabled the company to achieve a more diversified portfolio, with the non-motor business share increasing from 15% in 2023 to 35% by September 2025. The shift reflects a strategic focus on broader, more efficient risk distribution and improved capital utilisation.
Supported by enhanced reinsurance structures and prudent diversification, Kuwait Takaful maintained steady growth while strengthening profitability, resilience, and portfolio balance. These achievements highlight a deliberate structural evolution, positioning the company as a solid foundation for sustainable, long-term success.
Investment Transformation and Financial Resilience
Over the past two years, Kuwait Islamic Takaful Insurance Company has demonstrated solid financial progress built on prudent management. Following the capital injection by KIC, the company’s investment income increased by 186%, reflecting stronger capital adequacy and enhanced portfolio performance.
This growth was driven by a diversified investment portfolio designed to ensure liquidity and return stability, complementing growth with financial discipline and balance. The external auditor’s opinion reaffirmed the company’s sound governance, transparency, and compliance with IFRS 17 standards, confirming that its operations are conducted with professionalism, accountability, and strong financial oversight.
Leadership Combining Experience and Vision
The company’s progress is led by a team of experienced leaders and professionals who bring both technical expertise and human understanding to the business of protection.
- Chairman Mr Sami Sharif (FSA, MAAA) leads with decades of global actuarial and strategic experience across firms like AIG and CHUBB. He is guiding the company with analytical precision and long-term vision.
- Deputy Chairman Mr Meshari Al Nesef contributes strong investment insight and corporate governance expertise.
- CEO Mr Abdulwahab Ahmed, with over 30 years in regional insurance and risk management. He drives the company’s operational excellence and customer-first culture.
Together, they foster a corporate environment that values professionalism, service, and faith-based integrity.
Built on Integrity, Driven by Confidence
Kuwait Islamic Takaful Insurance Company operates under a robust financial framework that reflects its commitment to integrity, transparency, and disciplined fund management. The company has implemented clear governance and oversight processes to ensure financial stability and prudent allocation of resources. In profitable years, and after meeting all financial obligations and repaying all previous Qard Hassan, the company considers surplus distributions to participants, reaffirming its principled approach to fairness and accountability within its operational structure.
Empowering People Through Innovation
Guided by its motto “Keep Up… Keep Growing” Kuwait Takaful has advanced its digital transformation through a roadmap automating underwriting, claims, and customer service operations. The company is now preparing to launch AI-driven applications and mobile platforms to personalise customer experience and enhance operational efficiency.
In parallel, it continues to invest in employee development, offering training in digital tools, customer experience, and Sharia compliance to strengthen service quality and professionalism.
Regional Reach and Cooperative Strength
Building on KIC’s regional presence, Kuwait Takaful is exploring strategic partnerships and expansion opportunities across the GCC. Through collaborations with top-rated international Reinsurers and Retakaful firms, it ensures robust financial capacity and globally backed protection solutions tailored to regional markets.
A Catalyst for Ethical and Economic Growth
Kuwait Takaful contributes to Kuwait’s economic ecosystem by supporting sectors such as healthcare, logistics, construction, and trade. With sound financial governance and Sharia-compliant investments, the company aligns its strategy with Kuwait Vision 2035, promoting sustainable economic development built on transparency and accountability.
Looking Ahead: Faith in Action, Progress with Purpose
As Kuwait Islamic Takaful Insurance Company enters its third decade, it continues to advance with a clear strategic focus on product diversification (including SME, family health, cyber, and special risk coverage), accelerated digital transformation, regional expansion through the KIC Group network, customer-centric excellence, and reinsurance optimisation to strengthen long-term resilience. The company’s commitment to reliable, professional, and purpose-driven service remains strong, continuously building trust through integrity, innovation, and sustainable performance.
For every family protected, every business supported, and every challenge met with confidence, one principle defines its journey: Ethical strength creates financial trust- and together, they secure Kuwait’s future.
