One of the world’s oldest insurance brokers, Willis Group Holdings, will offer sharia-compliant commercial real estate coverage in Britain for the first time, helping address capacity constraints in the Islamic insurance (takaful) sector.
Set up in 1828, New York-listed Willis will offer the coverage through the Islamic insurance platform developed by London-based Cobalt Underwriting, one of several initiatives aimed at boosting London’s credentials in the Islamic finance industry.
“Hand in hand with the growth in Islamic finance is the demand for sharia-compliant insurance cover, in particular for real estate investors,” said John Dilley, MD Willis real estate practice.
