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ABOUT US
New Name Continuous
Confidence
Takaful Insurance Company is
distinct in being the first Libyan direct
insurance company based on Takaful principle
in its broad spectrum, hence a symbolic
addition in the Libyan market. Such a
principle depends on cooperative insurance,
which implies sharing the profits made by
the company with policy holders. by
distribution a certain percentage of surplus
from income and expenses made during the
financial year through which policy is
current.
Who are we?
We are one of the direct
insurance companies working in the Libyan
market. TIC is a member at the Libyan Union
of Insurance Companies and the General Arab
Insurance Federation. It has acquired
operation authorization in all types of
insurances including Medical Liability
Insurance.
Capital
TIC share capital is LD10M
Ten million Libyan Dinars, in accord with
Law No. 3 Year 2005 related to Supervision
and Control of Insurance Activities. Long
term growth is maintained through boost of
retention relatively linked to capital size.
Capital is made up of 100,000 shares, value
of each LD 100, owned by a number of
entrepreneurs and investors in the Libyan
market.
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