Takaful Oman wins AIWA Best Performing Company Award

MUSCAT: Takaful Oman, a pioneer of Takaful services in Oman, received the AIWA Best Performing Company Award 2018 for ‘Best Topline Growth in the Small Cap’ segment for the fourth time in a row. The award, instituted by Alam Al Iktisaad Wal A’Mal (AIWA) business magazine, recognises the top achievers in Oman’s corporate world.

The awards ceremony was held on September 10, 2018 at Sheraton Oman Hotel and Dr Rasheed bin Al Safi Al Huraibi, Chairman, Oman Tender Board, was the chief guest, for the evening. The event was held in the presence of many dignitaries and was attended by over 200 industry leaders and senior officials.

Sayyida Rawan Ahmed Al Said, Chief Executive Officer, Takaful Oman SAOG, said: “Our business model is well-diversified and tailored to meet the specific needs of our customers. Further, we have a very good Sharia Board which provides us with good guidance on Sharia related matters”.

The awards are based on a survey of companies listed on Muscat Securities Market (MSM) done by Gulf Baader Capital Markets (GBCM)and the results were validated by KPMG. The ranking of companies was based on their performance in the last fiscal year, taking into account a defined set of broad parameters, including growth, return ratios, productivity and profitability ratios measuring the growth and efficiency of the companies. “We will be launching a number of new initiatives in the next 3 months and many of them will be the first in the GCC. Winning this award makes us very excited about the future and we will not leave any stone unturned in serving our customers.” said OG Ravishankar, General Manager, Takaful Oman SAOG.

Takaful Oman entered the market as an experienced competitor aiming at achieving a leading position among other well-established insurance providers. The company has achieved significant growth over the years. It is ranked 9th in terms of overall gross premium and places 7th in terms of overall net premium.

Takaful Oman Insurance Company SAOG is a MSM listed Takaful Insurance Company, providing Sharia compliant Family Takaful and General Takaful in the Sultanate of Oman. It commenced commercial operations with a formal launch in June 2014 and is a fullfledged Takaful provider in Oman.