First Somali Takaful & Re-takaful

General Information


Organisation typeCompany

Company Address Djibouti road, Shangani District
, Mogadishu
Banadir Somalia

Phone number+252617747042

Web page

Company Address

Contact Information

Contact Person Mr Mohamed Haji Mudey
General Manager



Verified By

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%