Fitch Ratings, the global credit rating agency, has assigned Boubyan Takaful an Insurer Financial Strength (IFS) Rating of 'A' with a Stable Outlook for 2024. This rating is a testament to the company’s robust business model, financial stability, and its leading position in Kuwait's Takaful insurance sector.

On this achievement, Ibrahim Abdullah Al-Khuzam, CEO of Boubyan Takaful, expressed his pride, stating:

"We are delighted to receive this prestigious rating from Fitch, which underscores our dedication to innovation and our commitment to providing top-quality, Sharia-compliant insurance services and solutions. This recognition reaffirms our ongoing efforts to achieve the highest standards of performance, transparency, and customer satisfaction."

He further emphasized that this milestone reflects Boubyan Takaful's strong financial position, solid capital base, and operational stability, which collectively reinforce customer and shareholder confidence in the company’s ability to meet its obligations while driving sustainable growth and profitability.

Al-Khuzam highlighted that this is the first time in the company’s history it has achieved such a rating, marking a significant milestone in its strategic journey. He credited this achievement to the company’s focus on regulatory compliance, administrative excellence, and a strengthened reinsurance strategy.

It’s worth noting that this advanced rating is also a result of the strong strategic support and financial backing from Boubyan Bank, as well as the operational integration between the two entities. This collaboration continues to play a key role in driving Boubyan Takaful’s growth and strengthening its market position.

This accomplishment reflects Boubyan Takaful's unwavering commitment to excellence, innovation, and delivering value to its stakeholders while maintaining its leadership in the Takaful insurance sector in Kuwait.

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