Takaful

What Takaful does

Takaful International Company B.S.C., operating commercially as GIG Takaful, is a Bahraini insurance company founded in 1989 and headquartered in Manama. It is licensed by the Central Bank of Bahrain as both a General and Family Takaful Company, meaning it is authorized to operate Islamic-compliant (Sharia-compliant) insurance across general and life/family lines. The company serves individual consumers and small businesses in Bahrain, offering four core product lines: Motor Insurance (Comprehensive from BD 135, Third Party from BD 53, plus transfer, minor accident, claims, and extension services), Travel Insurance (tiered by geography from BD 3 to BD 9.5), Baitak Home Insurance, and Family Takaful (including Afya health and MAعA plans). It operates on a Takaful model based on mutual risk-sharing among participants, with surplus distributions to eligible participants rather than profit transfer to shareholders.

The technology stack is a conventional digital insurance platform: a corporate website (takafulbh.com) supporting online quote, purchase, and renewal for motor and travel products; a Smart Takaful mobile application available on Google Play and Apple App Store that consolidates policy e-cards; and Takaful Pay as a dedicated online payment service. The company maintains an active investor relations section (financial statements, corporate governance reports, insider trading policy) and a published Shariaa Board, consistent with a regulated Bahrain Shareholding Company (B.S.C.) structure.

The business model is built on recurring contribution payments (the Takaful equivalent of premiums) across motor, travel, home, and family lines, with surplus distribution acting as both a Sharia-compliance mechanism and a participant retention lever. Distribution spans direct-to-consumer online and mobile self-service, physical Takaful Centers for in-person service, a 80008050 hotline, and a channel partnership with Zain Bahrain that resells exclusive insurance packages through Zain's e-shop. Geographic scope is limited to the Kingdom of Bahrain, with no disclosed cross-border operations. The CEO is Essam Al Ansari.

Name

Takaful

Legal name

Takaful International Company B.S.C.

Website

https://gigtakaful.bh

Company type

Private

Founded year

1989

Operating status

Operating

Ownership category

akta.pro rank

Headquarters

HQ city

Manama

HQ country

Bahrain

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Motor Insurance Contributions: Participants pay contributions (rather than premiums) for motor vehicle coverage including comprehensive, third party, transfer, and minor accident coverage. Contributions are structured as recurring payments for ongoing coverage.
2. Travel Insurance Contributions: Short-term travel insurance contributions covering trip cancellations, medical emergencies, and lost luggage. Offered in tiered geographic coverage options (Europe, Worldwide excluding USA/Canada, Worldwide).
3. Baitak Insurance (Home Insurance): Comprehensive home coverage contributions for residential properties including homes, flats, and buildings.
4. Family Takaful: Family protection takaful products including Afya health coverage and MAعA coverage, providing financial protection for families.
5. Surplus Distribution Revenue Retention: Takaful operates on a mutual aid model where contributions are used to cover claims, fees, and costs. Eligible participants may receive surplus cashback on renewals or contribute surplus to charitable initiatives through Royal Humanitarian Foundation.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels3 records

Core offering

Takaful International Company B.S.C. (operating as GIG Takaful) provides Sharia-compliant Islamic insurance (Takaful) products in the Kingdom of Bahrain under a mutual risk-sharing model. Its product portfolio comprises motor insurance (Comprehensive, Third Party, Transfer, Minor Accident, Motor Extension), travel insurance (Europe, Worldwide excluding USA/Canada, Worldwide tiers), Baitak home/residential insurance, and Family Takaful plans (Afya health and MAعA coverage). Participants make contributions rather than premiums into a collective fund, and eligible participants may receive surplus distributions on renewal.

Product overview

Takaful International Company B.S.C. offers a suite of Sharia-compliant insurance products under the GIG Takaful brand. The product portfolio centers on four core offerings: Motor Insurance (with Comprehensive, Third Party, and additional vehicle-related services), Travel Insurance (regional and global coverage tiers), Baitak Insurance (Home Insurance), and Family Takaful (including Afya and MAعA plans). These are complemented by Takaful Pay for secure payments and the Smart Takaful mobile app for e-card management. The company operates on a Takaful model based on mutual sharing of risk among participants rather than conventional insurance principles.

Differentiator

Problem solved

Functional benefit

Brands

• Smart Takaful: Mobile application for digital insurance cards (E-Cards) - all insurance cards in one place
• Takaful Pay

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• ZainminorGTM or Marketing PartnerZain customers receive exclusive insurance packages through a partnership with GIG Takaful. Zain customers can access and purchase exclusive insurance offerings through Zain's e-commerce platform (eshop.bh.zain.com/insurance), providing bundled telecom and insurance value propositions.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Salama (Islamic Arab Insurance Company): UAE-listed Sharia-compliant Takaful insurer offering family and general Takaful products across motor, medical, and life lines, with a mutual surplus-distribution model highly comparable to GIG Takaful's Bahrain operations.
• Amana Takaful Insurance: Saudi-listed cooperative insurer providing Sharia-compliant family and general Takaful (motor, medical, property) — the closest regional Takaful peer to GIG Takaful's product mix and mutual structure.
• Bahrain National Insurance (BNI): Long-established Bahraini general and life insurance carrier competing directly in the same motor, home, and personal lines that GIG Takaful serves under its dual Central Bank license.
• Solidarity Bahrain: Bahrain-headquartered Takaful and general insurer offering motor, medical, and family protection products under Islamic principles — directly competing with GIG Takaful in the same Bahraini consumer market.

Broad incumbents

• Gulf Insurance Group (GIG): Regionally dominant MENA insurance group operating conventional and Takaful lines across multiple GCC markets; the 'GIG' brand in GIG Takaful's name suggests affiliation, making it the relevant group-level benchmark despite no formal parent disclosed in source data.
• AXA Insurance Gulf: Global insurance major with a Bahrain presence offering motor, property, and personal lines; competes with GIG Takaful on scale, distribution, and brand, but lacks the Sharia-compliant Takaful specialization.
• Qatar Insurance Company (QIC): Largest insurance group in the MENA region with GCC-wide operations including Bahrain, offering motor, travel, home, and life products across conventional and Sharia-compliant structures.

Regional players

• Takaful Malaysia: Malaysia's leading Takaful operator covering family and general Takaful lines under a similar mutual surplus-distribution model; comparable business architecture but operates in a different geography (Southeast Asia).
• Medgulf (Arabian Scandinavian Insurance Company): GCC insurance group offering motor, medical, and general lines across multiple Gulf states including Bahrain; competes for the same regional consumer and SME insurance wallet.

Emerging players

• Bupa Arabia: Leading Saudi health insurer offering cooperative (Takaful-aligned) and conventional health plans, relevant as a peer for GIG Takaful's Afya health family Takaful line and as a regional health-insurance benchmark.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/takaful-international

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Takaful