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Home Economy FICAN Names JAIZ Takaful Insurance Company of the Year
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FICAN Names JAIZ Takaful Insurance Company of the Year

By
Yusuf Issa An-nuphawi
-
September 25, 2017
JAIZ

FICAN Names JAIZ Takaful Insurance Company of the Year

In recognition and appreciation of its positive contribution to the insurance sector of the Nigerian economy, Jaiz Takaful Insurance Plc. has been named 2017 Insurance Company of the Year by the foremost Nigerian finance journalists’ body, Finance Correspondents Association of Nigeria (FICAN).

Jaiz Takaful Insurance Plc. was presented with the award on 19th September, 2017 by FICAN at a ceremony marking its “20th Anniversary Public Lecture and Award” held at Top Rank Hotel Galaxy, Abuja.

Describing the honour as an act of encouraging professionalism and excellence in the insurance sector, the Managing Director and Chief Executive Officer (MD/CEO) of the Company, Momodou Musa Joof, said Takaful Insurance has come to stay in Nigerian insurance market with the aim of improving insurance penetration in the country. He said, the system of Takaful or Islamic Insurance as an Alternative to the Conventional System of insurance acts as an additional vehicle for Economic growth.

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Takaful operations have great potentials in Nigeria considering the market size and the fact that Takaful is open and available to all irrespective of one’s faith.

Though first quarter of 2017 marked our start of operation in Nigeria, it is interesting to announce that the company has realized about N20 million in premium income despite we only got our products approval within the quarter.

The System of Takaful as an Insurance service, provides Solidarity in respect of human life or Property of the policyholder known as Participants. They subscribe to assist and indemnify each other in the event the need arises, in addition to mutual assistance, what is new is that at the end of the business year, any profit made under Takaful will be proportionately shared among its Participants and shareholders in relation to the scale of their investment.

Yusuf Issa An-Nuphawi: [email protected]

For the MD/CEO, Jaiz Takaful Insurance Plc.

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Yusuf Issa An-nuphawi
Yusuf Issa An-nuphawi
https://prnigeria.com
PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
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NUPENG Suspends Strike After Truce With FG, Labour, Oil StakeholdersFG Says Shea Export Suspension Will Create Jobs, Spur InvestmentNigeria, US to Expand Air-Ground Integration for Safer Counterterrorism OperationsKwara Police Release 48 Suspects After Finding No Criminal LinksNorthern Youth Coalition Defends Senator Buba, Condemns Smear CampaignsNSCDC Moves to Arrest Killers of 8 Operatives in Edo, Deploys Special SquadsUNODC, ONSA Push Open Source Intelligence to Combat CybercrimeTroops Rescue 5 Kidnap Victims, Repel Multiple Bandit Attacks in KatsinaSecurity Forces Foil Robbery Attack on Abuja–Kaduna Highway, Enhance Patrol Along Rail LineAU, Nigeria Sign MoU to Bolster Counter-Terrorism EffortsKaduna-Abuja Railway: An Urgent Call for Improved Maintenance and Security Compliance By Samuel AruwanThe Human Factor: IPRA President Addresses AI's Role in PRNigeria, African Union Sign MoU on Intelligence Sharing, CounterterrorismNiger Delta Operations: Troops Arrest 35, Recover Arms and Stolen OilMarwa, A Man of Uncommon Grace at 72 By Femi Babafemi
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