UAE: Ascana Insurance rebrands to Sukoon Takaful

Source: Middle East Insurance Review | Jan 2024

Arabian Scandinavian Insurance Company-Takaful (Ascana Insurance) has rebranded itself to Sukoon Takaful, aligning itself with the parent company’s brand, according to a statement the company issued last month.

Sukoon Insurance, formerly Oman Insurance Company, has completed the acquisition of 93.0432% of the share capital of Ascana in a special deal in May 2023.

“Together, Sukoon Insurance and Sukoon Takaful will form the UAE’s most prolific insurance powerhouse through shared expertise and resources. Our customers will have access to a wide range of Sharia-compliant insurance solutions in addition to our existing, conventional insurance products, backed by our award-winning customer service and rock-solid financials,” said Sukoon Takaful CEO Ahmed Abushanab.

Sukoon Takaful has recently received ‘A’ rating from S&P with Outlook Stable, at the back of Sukoon Insurance’s guarantee.

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