On-going growth continues as Takaful Emarat well-positioned to capitalize on the roll out of mandatory health insurance in Dubai
Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant Life and Health Takaful Provider, continues to invest in its on-going Emiratisation programme in support of the UAE’s National Agenda, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
Currently, 12% of Takaful Emarat’s employees are Emarati with a focus on steadily growing this percentage over the next 24 months. In support of this objective, training is a central component to ensure that Takaful Emarat has the correct skill sets and human capital in place to support its on-going growth.
Since the beginning of 2015, 41 of Takaful Emarat’s employees (Emarati and Non Emarati) have been identified to attend over 26 different professional courses from world-leading training institutes including 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).
The Company’s on-going investment in its human capital is in support of its accelerating commercial growth as Takaful Emarat is one of only two Shariah-compliant health and life Takaful provider approved by the Department of Health Authority and as such is well-positioned to capitalize on the roll out of mandatory health insurance in Dubai. Added to this, Takaful insurance in the region is forecast to grow as insurance penetration deepens. By 2017, the global gross Takaful market is expected to reach US$20 billion, up from current estimates of US$14 billion, according to EY.
Takaful Emarat’s Chief Executive Officer Wael Al-Sharif said:-
“As our business growth continues so does our investment in our Emiratisation programme as we seek to ensure we have the best skill sets in place from a local, regional and international perspective. As highlighted, our employee training programme is one of the most comprehensive in our industry and supports all our employees while also aligning to His Highness Sheikh Mohammed bin Rashid Al Maktoum’s National Agenda.”