Takaful Operating Model

EmiratesRE is operating as a retakaful provider out of the Dubai International Financial Centre (DIFC) and under regulation of the Dubai Financial Services Authority (DFSA). The company operates a Wakala model for managing the retakaful portfolio on behalf of the participants. The Wakala percentage is determined with reference to budgeted, general and administrative expenses plus reasonable margins. The determined percentage is verified and approved by the Shari’a Supervisory Board of the company. For financial year 2016, the Wakala percentage applied is 7.5% of the gross contribution.

In addition we use the Mudaraba model for managing the investment portfolio of the participant’s fund. The adopted percentage for this year is 80:20 for the participant and operator respectively. This model is Shari’a-compliant and is approved by our Shari’a Supervisory Board.

We believe this is the fairest and most transparent operating model, at the same time giving incentives for profitable attractive returns for all stakeholders. The Wakala and Mudaraba parameters are under regular revision by Management, Board and the Shari’a Supervisory Borad to assure the company`s fair treatment of all involved parties.

  • KEY FIGURES & GROWTH

    EmiratesRE has built a track record in its core markets building up a diversified portfolio of sustainable long-term partnerships.

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  • WE’RE RECRUITING APPLY ONLINE

    EmiratesRE is looking for the best talent in the insurance industry as well as Islamic finance for its long-term ambitions. If you feel you can add value to our company, please share with us your CV online.

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  • ENTERPRISE RISK MANAGEMENT

    EmiratesRE is implementing a formal Enterprise Risk Management plan. The company laid the basic foundations for a robust and fit-for-purpose ERM-program.

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