MEIF Innovation Award
Hannover ReTakaful B.S.C. (c) – a wholly-owned subsidiary of Hannover Re based in Manama, Bahrain – this week received the 2007 Innovation Award of the Middle East Insurance Forum (MEIF) in the category of "International Re-Takaful" company. The distinction, awarded by the MEIF with the backing of the Central Bank of Bahrain (CBB), recognises the establishment of Hannover ReTakaful as the first entry by an international operator into this region's Retakaful market.
With the establishment of Hannover ReTakaful in December 2006 Hannover Re was the first of the major western reinsurance groups to devote itself to the emerging Islamic insurance market with its own exclusive subsidiary.
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