First Somali Takaful & Re-takaful
Djibouti road, Shangani District
Web page http://fisoinsurance.com/
Company Address firstname.lastname@example.org
Mr Mohamed Haji Mudey
OrganisationSuomi-Somalia Seura Ry
Contact personYusuf M. Mubarak
Project typeJoint Venture; Investment
Project abstractFirst Somali Takaful & Re-takaful is looking for a Finnish insurance company to set up a joint venture insurance company in Somalia that will offer insurance services to both national and international companies operating in Somalia. The company is also looking for cooperation with Finnish insurance companies in the areas of services, resources, know-how, capacity building and exchange of technology and knowledge.
Project descriptionFirst Somali Takaful & Re-takaful is a Somalian insurance company that provides all classes of insurance. The company was established in 2014 and currently employs 52 persons. As it is the only local insurance company operating in Somalia it meets heavy demand and according to the company is for that reason leading in the market.
The company is specialized in the following insurance products: the coverage of motor, marine, medical, travel, business, liabilities, engineering, home, fire and general accidents. First Somali Takaful & Re-takaful's main focus is to provide Sharia’ compliant Takaful products to any part of Somalia and its neighbors.
The company is currently looking for a partner from the insurance sector in Finland for setting up a joint venture insurance company in Somalia.
Number of employees50-249
Annual turnover in €0,5-2 million
Annual balance sheet total2-10 million
Already engaged in international co-operationYes
Percentage of transnational activities0-9%