Portfolio Breakdown
In addition to several investments in equities, wakala, sukuk and real estate, Watania International Holding PJSC is the sole shareholder of two operational entities: Watania Takaful General PJSC (previously Noor Takaful General PJSC) and Watania Takaful Family PJSC (formerly Noor Takaful Family PJSC). Collectively, under the strategic umbrella of WIH, they form a significant presence in the Takaful industry in the UAE. The Watania Takaful companies are leading Takaful providers, positioned as the second largest Takaful provider with 25% of the UAE Takaful market share and one of the top 10 insurers in the UAE. with approximately 3% of overall UAE insurance market share.
in the UAE
Through the transformative restructuring within Watania International Holding that took place in March 2023, its insurance license was cancelled, and it became an investment holding company. Its fully owned operating companies or subsidiaries, Watania Takaful General and Watania Takaful Family continued to operate as Takaful providers with significant opportunities for growth.
supervision committee
Watania Takaful General PJSC and Watania Takaful Family PJSC operate in accordance with the teachings of the Islamic Shari’ah principles and within the provisions of UAE Federal Law No. 6 of 2007 relating to Takaful companies and Takaful agents and the Memorandum and Articles of Association of the companies.
Their business operations are conducted with support from an experienced and deeply knowledgeable internal senior Shari’ah VP and oversight of an Internal Islamic Shari’ah Supervision Committee (ISSC) comprising the following leading Islamic scholars.