Takaful Emarat, a Dubai Financial Market-listed, shariah-compliant life and health takaful provider, has backed its growth momentum with the introduction of a comprehensive programme of professional development for its employees.

 

Since the launch of this initiative at the beginning of this year, as many as 41 of Takaful Emarat’s employees have been identified to attend over 26 different professional courses from world-leading training institutes, said a statement.

 

It included The Chartered Insurance Institute (CII), The Associate Life Management Institute (ALMI), The Institute of Certified Management Accountants (CMA) and Emirates Institute for Banking and Financial Studies (EIBF), it said.

 

The company’s on-going investment in its human capital is in support of its accelerating commercial growth supported by its rapidly developing product distribution partnerships, said the statement.

 

This includes the recently announced agreement with Wahat Al Zaweya Company for Investment and Real Estate Development and wider agreements with major financial institutions such as RAK Bank and Emirates Islamic Bank. 

 

In addition to this enhanced distribution capability, as one of only two shariah-compliant health and life Takaful provider approved by the Department of Health Authority, the company is well-positioned to capitalise on the roll out of mandatory health insurance in Dubai, and the increased uptake of Takaful insurance in the region, which is forecast to grow as insurance penetration deepens, it said.

 

By 2017, the global gross Takaful market is expected to reach $20 billion, up from current estimates of $14 billion, according to EY.  

 

The training program also complements and supports Takaful Emarat’s experienced management team, which includes the appointment of 12 experienced executives over the last 24 months from globally respected insurance businesses.

 

Wael Al-Sharif, cheif executive officer, Takaful Emarat, said: “Following our recent restructuring and a return to profitability, we are investing in our team to ensure we have the best skill sets available which strengthens our customer-centric focus. 

 

"Our comprehensive employee training initiative, one of the most thorough in our industry, recognizes and rewards talent within our business as well as attracts potential new hires who want to work for a dynamic and growing business which is uniquely well placed to capitalize on the opportunities that exist within the UAE’s insurance market.” - TradeArabia News Service