Hannover Re for BancaTakaful

Hannover Re, with a gross premium of around 8 billion euro, is one of the leading reinsurance groups in the world.

It transacts all lines of non-life and life and health reinsurance and maintains business relations with more than 5,000 insurance companies in about 150 countries. Its worldwide network consists of more than 100 subsidiaries, branch and representative offices in around 20 countries with a total staff of roughly 1,800.

The rating agencies most relevant to the insurance industry have awarded Hannover Re very strong insurer financial strength ratings (Standard & Poor's AA- "Very Strong" and A.M. Best A "Excellent").

ReTakaful :

Hannover ReTakaful B.S.C. (c) is a fully Sharia compliant company that provides Retakaful for Takaful companies worldwide in all lines of business, on a proportional, non-proportional and facultative basis.

Hannover ReTakaful B.S.C. (c), Bahrain, received The International Takaful Award 2008 in the category of "The Best ReTakaful Company” as recognition of its significant contribution to the development of the emerging global takaful market. The award was handed to Hannover ReTakaful Managing Director Mahomed Akoob during the 2nd Annual World Takaful Summit in London.

With the establishment of Hannover ReTakaful in 2006, Hannover Re was the first of the major reinsurance groups to devote itself to the emerging Islamic insurance market with its own exclusive fully Shariah compliant Retakaful operation. Currently, Hannover ReTakaful’s clients are spread across

  • MENA (Middle East & North Africa) countries,
  • South East Asia,
  • South Asia sub-continent,
  • South Africa,
  • Sudan and United Kingdom.