GIG Egypt Life Takaful

GIG Egypt Life Takaful - About Us

AT A GLANCE

GIG Egypt Life Takaful, established in 2006, is the first joint Takaful life insurance company in Egypt, registered under the Insurance Companies’ Registry No. 22 for 2007.

The company is regulated by the Egyptian Financial Regulatory Authority (FRA) and supervised by a Shariaa Committee to ensure full compliance with Takaful principles.

GIG Egypt Life Takaful is part of Gulf Insurance Group (GIG) - one of the largest and most diversified insurance groups in the MENA region, majority-owned by Fairfax Financial Holdings Limited (Canada). Backed by this strong regional and international foundation, the company provides innovative, ethical, and customer-focused insurance solutions across Egypt.

We Have a Vision

For creating a better business

We Innovate

The way things are done

We Excel

Passion for brilliance



Takaful Concept

Takaful Definition
An alternative to the concept of insurance is the Islamic doctrine of Al-Takaful, as adopted by the Islamic operators today. This is because insurance may have a place in Shariaa, if it is approved by Shariaa practices based on shared responsibilities, mutual cooperation, and solidarity to safeguard one against a defined risk.
Objective of Takaful
Takaful provides customers with protection and security for themselves and for their families. Its main objective is to diversify the risk among the members. In Takaful the risk is shared mutually by the members of the common Takaful Fund under the Takaful scheme (Risk sharing).
The principles of Takaful
Contributions paid by the Policyholders to the company are directed as donations to the Takaful Fund. They are then invested in Shariaa compliant investment vehicles. At the end of each fiscal year, the balance of this fund is determined and accordingly the following takes place: In case of surplus in the Takaful Fund, the surplus is distributed between the company and the Policyholder according to the rules laid down by the Governing Council in this regard. In case of deficit in the Takaful Fund, the shareholders will grant the Fund an interest free loan repaid from the fund surpluses in the future years. Uncertainty is eliminated concerning subscription and compensation. It does not derive advantage at the cost of others.

Our Vision

GIGLT is committed to leading the Life Takaful insurance market in Egypt through sustainable and profitable growth. We prioritize customer-centric innovation, digital transformation, and operational excellence, supported by robust governance and risk management.

By fostering a collaborative and empowered culture, we ensure resilience, deliver long-term value to stakeholders, and shape the future of Life Takaful insurance.

vision

Strategic Pillars

Customer Centricity: Placing customers at the heart of all decisions and delivering personalized, high-quality services.
Sustainable & Profitable Growth: Driving long-term profitability while ensuring resilience and value creation.
Technical Platform Strengthening: Enhancing scalability, innovation, and governance through robust infrastructure.
Operational Excellence: Streamlining processes, optimizing costs, and improving performance to maintain competitiveness.
Culture Transformation: Empowering employees with clear values and behaviors to foster collaboration and innovation.
Governance & Risk Management, or GIGLT Shields - Protecting Our Directions: Ensuring accountability, compliance, and effective controls to safeguard the company’s direction.

strategic pillars

GIG Egypt Life Takaful Shareholders

Board of Directors

Rabih Abdel-Khalek

Chairman

Alaa El Zohairy

Vice Chairman

Sameh Anas

Managing Director

	REGULATORS
	The Egyptian Financial Regulatory Authority (FRA)
	The Egyptian Financial Regulatory Authority (FRA), is a public Authority having a legal status, established in accordance to law 10 of the year 2009. FRA is responsible for supervising and regulating non-banking financial markets and instruments, including the Capital Market and the Stock Exchange. In addition to all activities related to Insurance Services, Mortgages, Financial Leasing, Factoring, and Securitization. FRA's role is to regulate the market and ensure its stability and competitiveness to attract more local and foreign investments.
	The Shariaa Supervisory Committee
	The Shariaa Supervisory Committee has specific responsibilities for monitoring the activities of our Company to ensure that we abide with Shariaa principles. Their role includes reviewing all appropriate contracts and agreements relating to the group's transactions confirming compliance with Shariaa principles. The Committee currently comprises three of the world's most renowned and respected scholars on Islamic Shariaa:
	Dr. Nasr Farid Wasel
	He is the Chairman of the Board of rights and reform, the former Grand Mufti of Egypt from 1996 to 2002. He is a Professor of graduate studies and the Head of the comparative jurisprudence Department at the College of Shariaa and law at Al Azhar University in Cairo, and was assigned to the post of the Head of the Faculty of Shariaa and law in Daqahlia Governorate in 1995. He published over twenty books and scientific papers and studies in Islamic law and jurisprudence.
	Dr. Ali Gomaa
	He is an Egyptian Islamic scholar, jurist, and public figure. He specializes in Islamic Legal Theory. He follows the Shafi`i school of Islamic jurisprudence and the Ash'ari school of tenets of faith. He served as the eighteenth Grand Mufti of Egypt (2003-2013) of the Egyptian Islamic Legislation. He is one of the internationally most respected Islamic jurists according to a 2008 U.S. News & World Report "a highly promoted champion of moderate Islam", gender equality, and an "object of hatred among Islamists" according to The New Yorker.
	Dr. Abdel Moneim Fayad
	He is a professor of Economics specialized in Islamic economics. He holds a Bachelor’s, Master’s, and PhD from Al-Azhar University. He served as Egypt’s Minister of Finance after the 2011 revolution and has extensive experience as an economic advisor, particularly in Islamic banking and finance.