SABB Takaful announced appointment of Mr. Mohammed bin Abdul Aziz Alshaya as Non-Executive Chairman, and Mr. Sami Bin Jadaan Al Muhaid as Non-Executive Deputy Chairman of the Board of Directors based on the Saudi Arabian Monetary Authorty (SAMA) no objection letter dated July 16, 2019, and Board of Directors resolution effective July 16, 2019.
SABB Takaful Company SJSC is a Shariah-compliant insurance company. The Company operates in following segments: Individual Family (Protection and Savings for Individual), Group Family (Protection and Savings for Group) and General Takaful products. The Individual Family Takaful segment provides products such as financial protection for dependents in the event of death or disability of the plan holder, children education, saving for retirement and protection for the family and similar products. The Group Family Takaful segment provides cover for employees and their families in the event of death or total and permanent disability. The General Takaful segment provides companies with cover mainly for property, personal accident and marine cargo for unpredictable events. General Takaful solutions for individuals protect the individuals and their families against unfortunate events with respect to the plan holder's home property, incidences during travel and personal accident.