- +965-1837837
- info@tazur.com.kw
t'azur at a glance
t’azur Takaful Insurance Company is the new name in Takaful. t’azurTakaful was established in the year 2007 by a group of prominent business houses with an initial authorized capital of K.D 10,000,000 and paid up capital of KD 5,000,000 as the first Takaful insurance operator with regional perspectives.
t’azur Takaful is committed to develop sharia compliant products and services that offer policyholders exceptional value and that are custom made to suit their wants and needs. These products and services must stand the test of strong corporate governance to build trust in the regional market place.
t’azur Takaful has put together an outstanding management team with impeccable credentials and as we carry on building our legacy, we will continue to offer product and service flexibility along with leading edge technology that is second to none.
t’azur Takaful Insurance Company was incorporated in accordance with Kuwaiti Commercial Companies Law and carries out its operations in compliance with rules and regulations issued by the Ministry of Commerce & Industry.
Vision
Working to grow, growing to lead.
Our vision is to become a leading Takaful insurance operator to individuals, groups and businesses, consistent with sharia principles and internationally accepted Takaful practices.
Mission
Our mission is to fulfill a pioneering role in becoming a regional takaful group with global aspirations. Through organic growth, strategic acquisitions and partnerships, t’azur Takaful will create unique market reach, the t’azur Takaful name becoming synonymous with takaful leadership, innovation and customer service of the highest standard.
Values
Our values are rooted in the cooperative principles that form the basis of the Takaful concept – mutual support and sharing of resources – backed by operational practices that embody strength, flexibility and friendliness.
Board of Directors
CHAIRMAN
Vice Chairman
BOARD MEMBER
Chairman's Message
Innovation and customer services stand more than ever at the heart of our fast developing economy, and are especially evident in the Takaful industry where changes in regulatory frameworks and advances in technology are constantly opening new opportunities.
Takaful is based on the principles of mutual co-operation and solidarity against unpredicted risks or catastrophes, in which all parties involved, are expected to contribute genuinely.
t’azur Takaful Insurance Company, was founded to further develop the Takaful principles and practices in the way of providing a comprehensive range of innovative products and services and delivering quality customer services.
Our core values focus on providing shariah compliant insurance solutions, reliability, and performance, building & maintaining long-term relationships and delivering results that exceed the expectations of all our stakeholders.
This will be achieved by an empowered professional management team, leading a highly trained and rewarded staff while operating in a customer focused and result oriented environment.
Best Regard,
Chairman
Management
- Chief Executive Officer Yahya Nooruddin
- CEO Office Manager Assunta Roberts
- Chief Financial Officer Jasmeet Doctor
- Sales & Marketing General Manager Marwan Sakhel
- Manager Technical - General Takaful Rajesh Babu
- Manager Motor Underwriting Nada Hameed
- Motor Claims Manager Adel Murad
- Corporate Business Development Executive Jasim Al Baaz
- Broker Relationship Manager Hassan Mahfoudhi
- Medical Underwriting Manager Raj Pokkat
- Regional Director Medical Sana Al Darazi
- Life Underwriting Assistant Manager Yusra Mulla
- Human Resources ManagerMohammed Al Nasser
- Head of IT Mohammed Mortada
- Corporate Communications ManagerAla’a Gerashi
- Assistant Customer Service ManagerSumaya Al Siddiqi
- Internal Auditor Afaf Al Othman
- Sharia Officer Mustafa Al Mahmood
- Quality Assurance Manager Husain Al Salman
Corporate Governance
t'azur has developed a set of Corporate Governance guidelines to promote the effective functioning of the board and its committees as well as for the benefit of its shareholders, customers, employees, and other stakeholders. These Corporate Governance guidelines t'azur follows is designed on the current business operations, ownership, capital structure, and economic conditions in mind. The regulatory requirements of the Ministry of Industry and Commerce (MOIC) and the Central Bank of Bahrain (CBB) are set as the benchmark to these guidelines..
This allows a suitable structure and process to be set in order to provide for proper organization and conduct of business which is based upon transparency, accountability, and the principles of fairness.
Board Composition
Good governance principles require independence, transparency and flexibility. The Board acknowledges the importance of Board structure and, as a consequence one of the Board's most important responsibilities is identifying, evaluating and selecting candidates for the Board of Directors.
The standing committees of the Board are the:
- Executive Committee
- Audit Committee, and
- Nomination & Remuneration Committee.
The Board, upon recommendation of the Nomination & Remuneration Committee, will appoint committee members after consultation with the individual directors. The Nomination and Remuneration Committee is responsible for initially assessing whether a candidate would be an Independent Director. The Members of the Board of Directors will be elected for a three-year renewable term. An elected member of the Board may be re-elected upon the expiry of his term of office. t'azur will also ensure the Board of Directors will include at least two independent, non-executive members.
Roles of Board & Management
The business of t'azur is conducted by management under the oversight of the Board. The roles of the Board and management are related, but distinct. t'azur's business strategy is developed and implemented under the leadership and direction of the Chief Executive Officer (CEO) by its officers and other employees.
Board Conduct
The Board will ensure that policies are in place that prohibit (or strictly limit) potential conflicts of interest in cases such as:
- Related party transactions
- Potential misuse of corporate assets
- Possible use of privileged information for personal advantage
A member of the Board or any manager may not have any interest, whether directly or indirectly, in transactions or contracts made for the account of t'azur, except with an authorization of the General Meeting. t'azur will also ensure that all directors must declare to the Board any personal interest, whether direct or indirect, he may have in matters brought before the Board. This declaration must be recorded in the minutes and the interested director may not participate in the debates or voting on the resolutions to be adopted in this respect.
In order to safeguard the interests of the stakeholders' t'azur will ensure that the Board will oversee the process of disclosure and communications with external stakeholders. The Board will ensure that disclosures made by t'azur are fair, transparent, comprehensive and timely and reflect the character of t'azur and the nature, complexity and risks inherent in t'azur's business activities.
t'azur will also ensure that the Board meets at least four times per year.
At A Glance
t’azur Takaful Insurance Company was incorporated in accordance with Kuwaiti Commercial Companies Law and carries out its operations in compliance with rules and regulations issued by the Ministry of Commerce & Industry.
