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Takaful Inks Insurance Coverage Agreement With Albilad

To offer insurance coverage worth BD2.5 billion ($6.6 billion) regarding the construction of Water Garden City

Takaful International has inked an agreement with Albilad Real Estate Investment to offer insurance coverage regarding the construction of Water Garden City – reported Gulf Daily News.

As per the company, the Water Garden City project is a construction projects in the GCC, with a total estimated cost of BD2.5 billion ($6.6 billion). This project is expected to be an urban residential city with entertainment facilities and commercial offices.

Zeyad Janahi, general manager of Albilad, said: “We are delighted to sign this agreement with Takaful International, one of the leading insurance firms that provides innovative products and services in addition to dealing with a highly-ranked international reinsurance company.”

Mr. Janahi continued: From the beginning we realised the importance of having insurance to cover the various perils of this massive project. Our first task was to appoint AON as insurance consultants and then selected Takaful International as they offer the best insurance coverage with dedicated service. Undoubtedly, choosing Takaful International is an added value to the project because of their technical and professional potential.