A partnership to provide UAE clients with integrated Employee Benefits solutions
AXA, the no.1 international general insurer in the GCC, has partnered with one of the world's largest Takaful and Re-Takaful Group, SALAMA - Islamic Arab Insurance Company to offer Group Life Solutions to AXA's clients in the UAE. Combined with AXA's Group Health policy, the Group Life product allows UAE corporate clients to give a comprehensive Employee Benefits package to their staff. This enhances their reputation as an employer and ensures that their staff is well protected financially.
Underwritten by SALAMA, the Group Life product has been designed to offer the same benefits and reinsurance security as the product being sold by AXA in Saudi Arabia, Oman & Bahrain. The coverage includes 24/7 death & disability cover including from passive war & terrorism.
The servicing of the accounts, policy administration, premium collection and claims handling, will be provided by AXA Servicing Company, a dedicated unit based in the Dubai Outsource Zone. The unit already services as many as 65,000 Health clients in the Gulf region.
Commenting on the partnership, Jean-Louis Laurent Josi, CEO AXA Gulf, said: "I am excited by the prospect of being able to provide consistent Employee Benefits solutions to our clients across the Gulf region and the chance to further hone our service levels to customers. SALAMA is the ideal partner as we share the same values of fairness, transparency and reliability."
On this occasion, Noel D'Mello, General Manager, SALAMA Family Takaful, said: "SALAMA Family Takaful has gained credibility over the last two years, both with distributors and clients for its competitive product offerings and consistency in high service standards. We have ambitious plans of growing our Distribution reach across all lines of Family Takaful business within the UAE and hence are delighted to have entered into this Partnership with AXA."
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AXA in the Gulf
With a workforce of over 620 employees, 12 offices region-wide, a customer base of 250,000 and gross written premiums of over US$ 430 million, AXA is a major international insurer in the Gulf region, offering a wide range of insurance products and services for corporate and individual customers.
SALAMA - Islamic Arab Insurance Company
SALAMA - Islamic Arab Insurance Company is the leading provider of Shari'ah compliant insurance solutions (Takaful) around the world with a paid-up capital of USD 300 million (in excess of AED 1 billion) and provides transparency and fairness to its clients through the products it offers. It is listed in the Dubai Financial Market and has been rated "A-" by A.M. Best and "BBB+" by Standard & Poor's.
© Press Release 2009
