Dubai Islamic Insurance and Reinsurance Company, Aman, has signed a co-operation agreement with the American Life Insurance Company, Alico.

Under the agreement, Aman will provide Alico's insurance products that are compliant with Sharia principles, as determined by Aman’s Fatwa and Sharia Supervisory Board, to its customers in the UAE.

The agreement also stipulates that all Takaful products that Aman will accept to issue in its own name under this agreement shall be reinsured with Alico.

'Our cooperation with Alico represents a significant opportunity to provide innovative insurance products to Aman's customers in the UAE,' stated Hussein Mohammed Al Meeza, managing director and chief executive of Aman.

'This cooperation agreement with Aman comes as part of Alico's dedication to ensure that its products cover clients from all walks of life and all over the world,' added Michel Khalaf, Alico's regional president and CEO, Middle East, Africa and South Asia.-TradeArabia News Service