Sukoon Insurance PJSC and Sukoon Takaful PJSC have entered into a strategic partnership with Al Masraf, bringing together Sukoon’s insurance and takaful expertise with the bank’s established banking platform to provide customers with access to a broader range of protection solutions.
Industry sources added that this partnership was formalised during a signing ceremony attended by senior leaders from Sukoon Insurance, Sukoon Takaful and Al Masraf, marking an important milestone in Sukoon’s ongoing efforts to expand access to insurance and takaful solutions through trusted distribution partnerships across the UAE.
Under the strategic partnership, Al Masraf customers will have access to a range of insurance and takaful solutions from Sukoon Insurance and Sukoon Takaful, designed to meet the evolving protection needs of individuals, families and businesses.
Hammad Khan, Interim Chief Executive Officer and Chief Financial Officer of Sukoon Insurance, said: “We are pleased to partner with Al Masraf as this collaboration reflects our shared commitment to help customers access protection solutions through convenient and trusted channels. By combining Al Masraf’s strong customer relationships and banking expertise with Sukoon’s insurance capabilities, we aim to deliver greater value, broader choice and an enhanced customer experience for individuals and businesses across the UAE.” He added, โAlongside Sukoon Insurance’s product offering, our subsidiary Sukoon Takaful will provide Shariah-compliant takaful solutions to Al Masraf customers, enabling us to deliver a comprehensive suite of protection solutions tailored to different customer preferences and needs.โ
Ahmed Abushanab, Chief Executive Officer of Sukoon Takaful saidย โPartnering with Al Masraf is an important opportunity to bring accessible Sharia-compliant Takaful solutions to more customers. As Al Masraf marks 50 years of serving its customers, we are pleased to join them during this significant milestone as we build a partnership focused on providing relevant protection solutions that support customersโ financial needs and offer greater peace of mind.โ
Fuad Mohamed, Chief Executive Officer of Al Masraf, said: โOur partnership with Sukoon Insurance and Sukoon Takaful reflects our commitment to building an ecosystem of trusted partners that enables us to offer our customers more complete financial solutions.โย He added, โInsurance and protection are an important part of long-term financial wellbeing, and through this collaboration, we are bringing together the strengths of leading organizations to provide greater choice and convenience to our customers. We look forward to building a strong and successful partnership with Sukoon as we continue to enhance the overall customer experience at Al Masraf.โ
Industry sources added that this collaboration combines Al Masraf’s strong customer relationships and banking capabilities with Sukoon’s extensive insurance expertise, product offering and distribution strength. Together, the organisations aim to provide customers with greater choice, convenience and value while supporting their long-term financial wellbeing.
The partnership supports Sukoon’s strategy of strengthening its distribution capabilities and expanding access to insurance and takaful solutions through leading financial institutions.ย
