Lebanon Insurance Directory
Al Aman Takaful Insurance S.A.L (previously Main Insurance Company S.A.L.) was founded in Lebanon by the decree number 7/A.T dated 11/2/1988, to practice all kinds of insurance. Insurance register number is 220. It is registered under the number 53010 in the commercial register, in Beirut. Its capital is 2,250,000,000 L.L. fully paid. A.T.I joined Dallah al Baraka group on 1/9/2001.
General introduction to the Company:
Al Aman Takaful Insurnace (ATI) provides all types of insurance products and services, including Takaful services (the Islamic alternative to life insurance), in accordance with the rules and requirements of Islamic Sharia and invests its funds in all fields of investments that are permitted by Islamic Sharia.
The Company applies the principles of co-operative insurance which calls for all the policyholders to share the financial implications of any harm or damage befalling any of the policyholders.
The contributions (insurance premiums) paid by the policyholders form a fund from which the Company pays all claims; and after deducting all technical (insurance) reserves, provisions and operating costs expended on insurance operations, the resultant surplus becomes due and refundable to the policyholders.
ATI maintains two separate accounts: one for the shareholders and another for the policyholders. As well as managing and investing their own funds, the shareholders manage and invest the policyholders' funds, on their behalf, in return for a share of the ensuing investment income.
Once the policyholders' share of investment income is added to the surplus from insurance operations, the Company distributes all or part of the total amount to policyholders annually in proportion to their contributions (insurance premiums) thereby reducing the actual cost of insurance to the policyholders.
The Company has a Sharia Supervisory Board which ensures that all transactions and operations, carried out by the Company, adhere fully to Islamic Sharia provisions and principles.
Company Mission:
To complete Dallah al Baraka banking and finance cycle, and to find the legitimate substitute for the traditional insurance, and to satisfy the need of a big sector of clients who were reluctant to deal with the traditional insurance companies.
To cover the absence of Islamic Insurance companies and any Islamic insurance product in Lebanon, while it is present in all other markets like (Saudi Arabia, Qatar, Kuwait, Jordan, Bahrain, Malaysia, etc.....)
Company Principles
A.T.I. relies on honesty and credibility in all its transactions with its clients, in order to spread the right idea about the Takaful Insurance, preserve the rights of its clients and fulfill its promises.
A.T.I. works according to the joint guarantee concept.
A.T.I puts all its efforts to advice its clients (individuals and groups) and protect their rights using highest standards of performance.
Company Objectives
Contribute to the development of the Islamic insurance market.
Establish alliances with other companies.
Promote the concept of the Islamic insurance in the Lebanese society.
ATI Team:
The team of A.T.I. was selected from a well-experienced and efficient staff in the industry.
A.T.I. believes in investing in its employees by training them and providing them with the best up-to-date professional programs in order to build a team who will lead the company to success.