Amana Takaful celebrates 15 years of serving nation

Thursday, 24 July 2014 00:00 - - {{hitsCtrl.values.hits}}

Chief Guest arrival- Sarath Palitha Fernando, President's Counsel, Attorney General of Sri Lanka

This year, Amana Takaful PLC (ATPLC) the only fully-fledged Takaful operator in the country, commemorated 15 years of spearheading the Takaful concept in Sri Lanka. The composite insurer celebrated the occasion with a gala dinner for long standing life and general customers, key strategic partners, the company’s board of directors and staff. Amongst many distinguished guests, Sarath Palitha Fernando, President’s Counsel, Attorney General of Sri Lanka graced the occasion as the Chief Guest. The company continued its 15 year celebrations by conducting customer felicitations around the country at all its branches island-wide as well. Amãna Takaful PLC Chief Executive Officer Fazal Ghaffoor, addressing the select gathering said, “The word, Amãna means ‘Trust’ and the concept of Takaful is all about ‘Mutuality’. Our company name signifies mutual trust, which is the foundation of our entire business operation. The company operates on the values of sharing and mutual well-being and since its inception in 1999, has built a legacy of outstanding service, trustworthiness and transparency. “Over the years, Amãna Takaful has expanded its geographic footprint to 25 branches across Sri Lanka and in 2004; the company expanded its international presence to the Republic of Maldives. During a decade, Amãna Takaful Maldives has successfully pioneered the Takaful concept and has commanded an enviable share of the insurance market as a free standing public company listed on the Maldives Stock Exchange (M.S.E.).” The evening commenced with long standing customers, business partners, service providers and staff were appreciated for their patronage, association and service to grow, sustain and spread the Takaful concept in Sri Lanka. In its true spirit of sharing and in keeping with the tenants of Takaful, the company recently presented all non-claimant General Policyholders a payment of surplus amounting to 15%, an increase from last year’s 12.5%. In 2013, Amana Takaful concluded another significant year of achievement, recording an impressive profit after tax of Rs. 117 million, an eight fold increase over the previous year’s restated profits. Amana Takaful is the only insurer in Sri Lanka who shares a part of the ‘surplus’ from its risk fund at the end of a defined period. Surplus is commonly referred to as underwriting profit by insurance companies and usually forms part of a company’s retained profits. This signifies the company’s commitment to sharing and also makes the net cost of insurance cheaper for non-claimant Takaful policyholders. ATPLC has been serving customers by providing a range of competitively superior insurance solutions. Through its range of products, the company continuously strives to deliver an exceptional standard of service that meets the needs of its diverse customer groups. Amana Takaful has been recognised for its innovation and quality of service, and has been acknowledged as one of Sri Lanka’s fastest growing composite insurers. In 2013, the company received recertification as a service organisation in compliance with ISO 9001:2008 Quality Management Systems Standards. ATPLC was also awarded bronze as the ‘Turnaround Brand of the Year’ at the SLIM Brand Excellence 2013 Awards and ‘The Best Islamic Financial Services Provider in Sri Lanka 2013’ by the International Finance Magazine based in London. Most recently, Amana Takaful was adjudged ‘The Best Islamic Financial Entity in Sri Lanka 2014’ at the awards ceremony conducted by the Sri Lanka Islamic Business and Finance Industry (SLIBFI). ‘Krutha Guna’, a unique insurance policy designed to take care of the hospitalisation needs of individuals over 55 years of age, received a Gold award for the ‘Product of the Year’ at the SLBFI awards. Amana Takaful continues to be in the forefront of the insurance industry in Sri Lanka and caters to all segments of customers. The Takaful way of insurance operates on the concept of bringing people together to be part of a system that gives them the opportunity to help each other. As Amana Takaful looks ahead to 2015, the company will continue to evolve and offer a personalised and efficient service that meets the ever-changing needs of its extensive customer base.

Jayalath De Mel receiving the award in recognition of his loyal service to Amana Takaful for the past 15 years

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