Boubyan Takaful

What Boubyan Takaful does

Boubyan Takaful Insurance is a Kuwait-based Sharia-compliant (Takaful) insurance provider founded in 2006, operating as a privately held subsidiary of Boubyan Group and headquartered in Kuwait with 51–100 employees. The company offers Takaful products organized into two segments: an individual/retail portfolio covering motor own damage, family (Seha) medical, savings-linked (One-Third Alkhayrat), domestic helper, marine TPL, equine, household, medical malpractice, and travel lines; and a corporate portfolio covering fire, marine, engineering, money/fidelity guarantee, fleet motor, political risk, general and professional liability, cyber, group medical, group life, personal accident, and workmen compensation. Customers include both individual consumers and corporate entities, with Kuwait National Petroleum Company (KNPC) cited as a recognized enterprise customer.

The company's technology stack centers on a digital insurance platform delivered through its website and dedicated iOS and Android mobile applications, enabling customers to purchase policies, submit claims, and renew coverage on a self-serve basis. The platform includes an online insurance calculator that produces instant estimates by coverage type and a medical network locator for finding in-network healthcare facilities. Distribution is hybrid: retail customers transact through self-serve digital channels, while corporate clients receive tailored pricing via a Request-for-Quotation (RFQ) workflow on the same web/mobile surface. Boubyan Bank, a related entity within Boubyan Group, functions as a channel partner for cross-selling and co-marketing, evidenced by joint events such as the January 2025 Gulf Run collaboration.

The revenue model is built on recurring Takaful insurance premiums under a mutual-pool structure (participants contribute to a collective risk pool in accordance with Sharia principles), with quote-based pricing determined per risk profile and an annual billing cadence. Pricing is not publicly disclosed. In September 2024, Fitch Ratings assigned the company an 'A' IFS (Insurance Financial Strength) Rating with Stable Outlook, signaling capital adequacy and claims-paying capacity. Geographic operations are confined to Kuwait with no disclosed international footprint, and the company maintains an active presence across major social platforms (Facebook, Instagram, X, YouTube, LinkedIn, TikTok) for brand-building and customer engagement.

Name

Boubyan Takaful

Legal name

Boubyan Takaful Insurance

Website

https://boubyantakaful.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

Boubyan Takaful is a Kuwait-based Sharia-compliant insurance company founded in 2006, offering Takaful motor, medical, life, property, and corporate lines to individuals and enterprises via a digital platform, mobile app, and a Boubyan Bank distribution partnership.

Ownership category

akta.pro rank

Product category

Islamic (Takaful) Insurance

NAICS

Insurance Carriers (5241), Direct Property and Casualty Insurance Carriers (524126), Direct Life Insurance Carriers (524113), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Life Insurance (6311)

akta.pro primary industry

Large Group Health Insurance (Mid-Market & National Accounts) (FSAIAFAE)

akta.pro secondary industries

Group Universal Life (GUL) (FSAIADAC), Takaful Bancassurance (Islamic Insurance Distribution) (FSABAGAM)

Keywords

• Takaful insurance
• Sharia-compliant insurance
• Family medical insurance
• Motor insurance
• Corporate risk insurance

Headquarters

HQ city

Kuwait

HQ country

Kuwait

HQ region

Middle East

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Takaful Insurance Premiums: Sharia-compliant insurance products where participants contribute to a mutual pool to cover collective risks. Revenue generated through insurance premiums from both individual and corporate policyholders.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Boubyan Takaful provides Sharia-compliant Takaful (mutual-cooperation) insurance products to individuals and corporations in Kuwait, spanning motor, life, family medical, household, marine, travel, liability, cyber, political risk, engineering, money/fidelity, and group employee-benefit coverages. Customers can buy policies, submit claims, and renew coverage through the company's digital insurance platform and mobile application, while corporate clients receive tailored quotations via a dedicated Request for Quotation (RFQ) channel.

Product overview

Boubyan Takaful operates as a Sharia-compliant insurance company offering a comprehensive portfolio of 21 products organized into Individual and Corporate segments. The Individual Products portfolio includes Motor Own Damage Insurance, Family Seha Medical Insurance, One-Third Alkhayrat Insurance, Domestic Helper Insurance, Marine TPL, Equine Insurance, Household Insurance, Medical Malpractice Insurance, and Travel Insurance. The Corporate Products portfolio spans Property & Asset Protection (Fire Insurance, Marine Insurance, Engineering Insurance, Money Insurance & Fidelity Guarantee, Motor Own Damage for Companies), Business Risks & Liability (Political Risk Insurance, Liability Insurance, Cyber Insurance), and Employee & Group Benefits (Group Medical, Group Life, Personal Accident, Workmen Compensation). The company provides a digital platform enabling customers to buy policies, submit claims, and renew coverage through their website and mobile application.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Own Damage Insurance Motor insurance that provides full protection for vehicles on every journey, covering own-damage risks for individual policyholders.
• Family Seha Medical Insurance Sharia-compliant medical insurance coverage for families, providing healthcare benefits for individual policyholders.
• One-Third Alkhayrat Insurance Takaful savings and investment-linked insurance product designed for individual policyholders.
• Domestic Helper Insurance Insurance coverage for domestic workers, providing protection for individual policyholders employing household staff.
• Marine TPL Insurance Marine Third-Party Liability Insurance offering coverage for watercraft and maritime risks for individual policyholders.
• Equine Insurance Specialized insurance for horse owners covering theft, mortality, and emergency surgery for individual policyholders.
• Household Insurance Property insurance protecting households and personal belongings for individual policyholders.
• Medical Malpractice Insurance Professional liability coverage for healthcare providers against claims of medical negligence for individual policyholders.
• Travel Insurance Coverage for travelers including lost luggage and medical emergencies for individual policyholders.
• Fire Insurance Property insurance covering fire damage and related risks for corporate clients' assets.
• Marine Insurance Comprehensive marine cargo and vessel coverage for corporate clients engaged in maritime trade.
• Engineering Insurance Coverage for engineering projects, construction risks, and equipment breakdowns for corporate clients.
• Money Insurance & Fidelity Guarantee Protection against cash losses and employee dishonesty for corporate clients.
• Motor Own Damage for Companies Fleet and commercial vehicle insurance covering own-damage risks for corporate clients.
• Political Risk Insurance Coverage protecting corporate investments and operations against political instability, expropriation, and civil unrest.
• Liability Insurance General and professional liability coverage for corporate clients against third-party claims.
• Cyber Insurance Coverage for corporate clients against cyber threats, data breaches, and digital risk exposures.
• Group Medical Sharia-compliant group health insurance plans for corporate employees.
• Group Life Group life and takaful coverage for corporate employees and their beneficiaries.
• Personal Accident Coverage for workplace and personal accidents for corporate employees.
• Workmen Compensation Mandatory coverage for work-related injuries and occupational diseases for corporate employees.

Quantifiable outcome

• Fitch 'A' IFS Rating with Stable Outlook for 2024 - indicating strong financial stability

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Kuwait National Petroleum Company (KNPC)minorOthers · 1 February 2025KNPC honored Boubyan Takaful for services provided, indicating a customer relationship rather than a formal partnership.
• Boubyan BankcoreStrategic or Co-development Partner · 14 January 2025Boubyan Takaful participates in events like Gulf Run in collaboration with Boubyan Bank, indicating a strategic partnership within the Boubyan Group for cross-marketing and customer referral activities.
• Fitch RatingsminorOthersFitch Ratings assigned Boubyan Takaful an 'A' IFS (Insurance Financial Strength) Rating with Stable Outlook for 2024, providing independent financial stability assessment.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Peers

• Salama Cooperative Insurance:

Direct peers

• Kuwait Insurance Company: Kuwait Insurance Company is one of the oldest and largest domestic insurance carriers in Kuwait, providing P&C, life, and medical coverage to individuals and corporations. It is a direct competitor in the same Kuwait market with comparable enterprise and individual product lines.
• Walaa Cooperative Insurance: Walaa Cooperative Insurance is a Saudi-listed cooperative (Takaful-aligned) insurer offering motor, P&C, and medical coverage with a strong digital distribution platform. Comparable to Boubyan Takaful in Sharia-compliant positioning, multi-line product set, and digital-first retail strategy.
• Gulf Insurance Group: Gulf Insurance Group (GIG) is one of the largest insurance groups in Kuwait and the wider MENA region, operating across P&C, life, and Takaful lines. It is the closest direct competitor to Boubyan Takaful in the Kuwaiti insurance market with comparable product breadth and corporate client focus.
• Takaful International Company: Takaful International is a Bahrain-based Sharia-compliant insurance carrier offering family Takaful, general Takaful, and group products across the GCC. It is the closest Takaful-model direct peer, competing on the same Sharia-compliant value proposition across overlapping Gulf markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/boubyantakaful
• YouTubeyoutube.com/@boubyan.takaful
• Facebookfacebook.com/boubyantakafulinsurance
• LinkedInlinkedin.com/company/boubyantakaful
• Instagraminstagram.com/boubyantakaful/?hl=en
• TikToktiktok.com/@boubyantakaful?_t=8mdt9Wpnbvz&_r=1

Revenue estimate

Valuation estimate

Number of profiles

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 Boubyan Takaful