Business

Sukoon Takaful has entered into a strategic partnership with the Sheikh Zayed Housing Program (SZHP) to deliver specialized Family Takaful coverage to eligible UAE nationals. The initiative was officially launched at a signing ceremony held in Dubai.

Under the agreement, Sukoon Insurance and Sukoon Takaful will join a pool of UAE-based insurers providing coverage to individuals up to 95 years of age — a limit that surpasses current market offerings. Additionally, the program will enable Emiratis up to 70 years old to access housing finance with a maximum repayment term of 25 years. The housing finance will be facilitated through leading banks across the UAE.

Ahmed M.A. Abushanab, Chief Executive Officer at Sukoon Takaful, highlighted the importance of the collaboration, stating:
“Through this partnership, we are committed to empowering UAE nationals with solutions that promote long-term stability and well-being. With the 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.”

The agreement builds on Sukoon Takaful’s recent positive financial performance. Earlier this year, the company reported a strong turnaround and return to profitability for the year ending December 31, 2024. The results were attributed to strategic initiatives such as portfolio optimization, operational cost efficiencies, and a sharpened focus on core services.

Industry experts view this new takaful partnership as a significant step forward in enhancing financial security and housing opportunities for UAE nationals, while reinforcing Sukoon Takaful’s position as a key player in the region’s takaful sector.

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