London's first shariah-compliant insurance broker
London’s Gatehouse Bank has teamed up with Lloyd’s insurance broker Paul Napier to form the first insurance broker to offer shariah-complaint coverage in London.
The new firm, called Gatehouse Napier, will offer Islamic insurance products known as takaful and re-takaful for commercial risks.
The firm’s initial mandate will be to cover risks for trade finance, financial institutions and real estate.
Gatehouse Napier will be headed up by Richard Bishop, who takes the role of chief executive officer.
Bishop has worked in the insurance industry for more than 25 years including serving at insurance brokers Marsh.
He says: “We are excited about this new venture which will introduce a new dimension to the global takaful market, with the introduction of high quality capacity that is price-competitive and also achieves shariah-compliance in all its undertakings.”
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