Standard & Poor's (S&P) reconfirmed BBB 'Stable' long-term counterparty credit and insurer financial strength ratings to Takaful Re Limited (TRL), a Dubai International Financial Centre (DIFC) based Retakaful operator.
According to S&P, the rating is based on Takaful Re' s strong capitalization, supportive shareholder base, and knowledgeable and experienced management team. This is based on the company's extremely strong capital adequacy as measured by S&P Services' risk-based capital model, low reliance on retrocession, and competent reserving practices.
The stable outlook on TRL reflects S&P expectation that the company will continue to be supported by its shareholders, enabling the company's competitive position within the Retakaful segment to grow. S&P expects Takaful Re's business flow prospectively to strengthen.
Mr. Chakib Abouzaid, Chief Executive Officer, Takaful Re commented "Reaffirming TRL rating by S&P is recognition to the company proven standing capabilities in the Retakaful sector. TRL is able to deliver not only a broad range of family and general Retakaful solutions, it is also able to deliver the appropriate understanding to ensure a best-fit solutions to clients across various market segments"
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About Takaful Re
Takaful Re is a significantly capitalized Islamic reinsurance company, committed to actively contribute to the growth and development of the Takaful industry in accordance with Shari'a' principles.
Takaful Re is registered in Dubai International Financial Centre (DIFC) number 0089 and regulated by
For further information, please contact
Amal Dardour - Asst. Director
Corporate Communications & Business Planning o
Tel: +973 17 544 357, Fax: +973 17 531155
Email: takaful-re@takaful-re.ae
© Press Release 2009
