Sukoon Takaful has signed a strategic partnership with the Sheikh Zayed Housing Program (SZHP) to offer specialized Family Takaful coverage to eligible UAE Nationals. The innovative programme was officially launched with a signing ceremony in Dubai.
As part of the setup, Sukoon Insurance and Sukoon Takaful will be part of a pool of UAE-based insurers, offering coverage to individuals up to 95 years of age, far beyond the market norm. It will also empower older Emiratis up to 70 years of age by providing housing finance with a maximum 25-year term. The housing finance will be administered through leading local banks in the UAE.
Ahmed M.A. Abushanab, Chief Executive Officer at Sukoon Takaful, said “Through this partnership, we are committed to empowering UAE Nationals with solutions that promote long-term stability and well-being. With extended age limit, we are addressing a critical market gap and reaffirming our dedication to offering customer-centric plans tailored to the needs of the market.”
Earlier his year, Sukoon Takaful announced its financial results for the year ended December 31, 2024, reporting a significant turnaround and a return to profitability. This positive result reflects the effectiveness of strategic initiatives implemented throughout the year, including portfolio optimization, cost efficiencies, and a renewed focus on core competencies. This initiative is a step further to their commitment of being a leading reference in the region's takaful space.
