- Africa Retakaful was established in 2010 and commenced operations in 2011
- Africa Retakaful is 100% owned, supported and guaranteed by Africa Re.
- Africa Retakaful was set up in response to increasing needs of African Takaful industry for a specialized regional Retakaful Operator.
- Africa Retakaful provides all types of Retakaful products which are fully sharia’a compliant.
- Africa Retakaful adopts a mix of Wakala & Mudaraba models.
- The Retakaful operation of the company is based on Wakala model with management expenses as actual.
- Investment of participants’ funds is based on Mudaraba model.
- Africa Retakaful supports the Takaful products even if run by a conventional player to enhance the concept of Takaful
- The company’s Sharia’s Supervisory Board is continuously examining the products to ensure compliance with the Sharia’a principles.
- Our main focus is African Takaful Business, Middle East and Asia.
- To establish a leadership position as a regional Retakaful operator committed to Africa and Asia, by providing services in accordance with international standards.
- To provide a complete range of Retakaful products in order to meet our clients’ business requirements.
- To establish a strong Retakaful provider in Africa and Asia
- To meet the increasing need for Sharia’a compliant products.
- To increase the Takaful awareness in our target markets.
- To establish a strong Takaful industry with a focus on Africa.
- Wakala Model for Operations:
Africa Retakaful applies the Wakala Model for its operations with management expenses as actual.
Thus the risk is shared among the participants, where the underwriting results belong only to participants as surplus or deficit.
- Mudaraba Model For investments
Africa Retakaful applies the Mudaraba model for the investments of the participants’ funds.
Thus the net investment income is shared between the participants and Africa Retakaful.
Africa Retakaful provides various Retakaful products, which are essential to meet the increased business needs of the takaful industry. All our Retakaful products are approved by the Sharia’a Supervisory Board.
Africa Retakaful range of products are available by all means of Retakaful, facultative or treaties, proportional or non-proportional for all classes such as:-
- Engineering Retakaful
- Marine Retakaful (Hull, Cargo and Liabilities)
- Oil and Energy Retakaful
- Property Retakaful
- All classes of Miscellaneous Accidents,
- Aviation Retakaful
- Family Takaful and all related products.
All classes are written according to the underwriting policy and guidelines of the company.
African Takaful Reinsurance Company
Address: - 7th ElKhalily St., Plot No.1149
Massaken Sheraton Heliopolis,
Postal code 11361 Cairo, Egypt
Tel.:- 00202 22685668
Fax: - 00202 22685667
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