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Solidarity Group Holding, a member of the Ithmaar banking group and one of the largest takaful companies in the world, has increased its stake in Jordan as it continues to push ahead with its strategic expansion plans.
"We have further strengthened our presence in Jordan by significantly increasing our stake in First Insurance Company, a leading Jordanian takaful operator," said Solidarity Group Holding acting chief executive Ashraf Bseisu, pictured right. "With First Insurance Company now an associate of the Solidarity Group, we are in a better than ever position to capitalise on the unique growth opportunities presented by the Jordanian takaful market," he said.
"In its first year of operations, First Insurance Company reported profits - an impressive achievement for any company in any country, and a particularly impressive achievement for a takaful operator in a developing market," said Mr Bseisu. "Last year, the company, now in its second year of operations, continued to report profits and significantly increased its market share to become one of Jordan's most recognised takaful providers," he said.
"Jordan is a particularly promising takaful market - and, by increasing our presence, we are also increasing our ability to participate, effectively, in this growing market," said Bseisu.
