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Article: Zurich Financial Services sets up takaful venture with Abu Dhabi firm.
- Article from:
- Gulf News (United Arab Emirates)
- Article date:
- November 4, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Zurich: Zurich Financial Services Group announced on Monday that it has signed an agreement to establish a joint venture company with Abu Dhabi National Takaful Company PSC and create a new family takaful business.
The new insurance company, Zurich Takaful Company Limited, will be based in the Dubai International Financial Centre (DIFC), subject to the receipt of the required regulatory approvals. Zurich will control 51 per cent in the joint venture company, while the remaining 49 per cent stake is owned by Takaful.
"The launch of Zurich Takaful is an exciting growth opportunity and in line with Global Life's strategy, while it also reinforces the ...