First Takaful Insurance Co.

Established in 2000 and currently listed on KSE, it has sought to pioneer the business of Islamic Insurance, by providing all types of Takaful insurance and re-insurance services across marine and aviation, motor vehicles, fire, life and general accident insurance activities.

Watheeqa partnered alongside leading Islamic financial institutions in Kuwait to aid The Company in realizing its future growth plans by providing financial and strategic advice to complete a thorough corporate restructuring program and institute a new I.T. framework, enabling it to expand its customer base and seek new opportunities.

As of December 31, 2007 Watheeqa’s equity stake amounted to 13% and The Company’s total assets were approximately USD 55.5 million.