Garowe Online

Somalia: First insurance company opens in Puntland

Takaful Insurance Company has on Monday opened its doors in Somalia’s northeastern state of Puntland for the first time in over two decades, ushering in what analysts believe boost for the country’s fledgling insurance industry. Takaful Somalia head Omar Haji Hussein revealed that they would provide indemnity against a lot of losses facing business community. In support of purity and certainty, prominent cleric Sheikh Mohamud Haji Yusuf praised the opening of Takaful in Puntland. Opened in Mogadishu in December 2014 at first, Takaful insures cars, buildings and other essential properties for risks.

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