Solidarity Bahrain, one of the largest insurance companies in Bahrain and a subsidiary of Solidarity Group Holding, has been awarded the prestigious title of ‘Takaful Company of The Year 2024’ for the second year at the 11th edition of the Middle East Insurance Industry Awards (MIIA).
The winners were announced at a gala dinner held in Dubai.
Solidarity Bahrain was recognised as the ‘Takaful Company of The Year 2024’ following its financial strength rating ‘B++’ with a stable outlook by AM Best Global Rating Agency. This recognition comes following its acquisition of Al Hilal Life and its subsidiary, Al Hilal Takaful, underscoring the company’s robust capital efficiency, liquidity levels, diversified investments, and solid financial flexibility as a listed company in Bahrain Bourse.
Commenting on the occasion, Solidarity Bahrain chief executive officer Jawad Mohammed said: “We are deeply honoured by the MIIA recognition, and we take immense pride in receiving this prestigious award, which stands as a testament to our relentless efforts to solidify Solidarity Bahrain’s position as a leader in the local insurance sector. We extend our heartfelt gratitude to the MIIA team for this accolade and look forward to achieving further milestones in the future, driven by the trust and support of our partners.”
The Middle East Insurance Awards are presented by Middle East Insurance Review, a leading regional magazine that highlights the exceptional performance of insurance companies across the Middle East and North Africa. Nominees undergo rigorous evaluation by a panel of esteemed insurance experts, with Ernst & Young Global Limited overseeing the auditing process.
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