Gulf Takaful Successfully Raises $22.9 Million in Capital Increase
Deal News | Aug 20, 2025 | Zawya
Gulf Takaful Insurance Company K.S.C.C., with the assistance of Kuwait Financial Centre Markaz, has successfully completed a capital increase of $22.90 million by issuing 70,286,789 ordinary shares. The public offering was priced at 100 Kuwaiti fils per share, covering 70% of the company's issued and paid-up capital. The subscription window was open for two weeks in June 2025. CEO Mubarak Othman Al-Ayyar highlighted that this move demonstrates shareholder confidence and will strengthen Gulf Takaful's solvency margin, align with regulatory mandates, and support strategic expansion initiatives both locally and regionally in the Takaful Insurance sector. Markaz's CEO, Ali H. Khalil, praised the company's role in managing the subscription with the highest regulatory standards, emphasizing the robust partnership and trust between the entities.
Sectors
- Insurance
- Financial Services
Geography
- Kuwait – Both the Gulf Takaful Insurance Company and Kuwait Financial Centre Markaz operate in Kuwait, and the capital increase primarily targets this region.
Industry
- Insurance – The article underscores Gulf Takaful's activities within the insurance domain, focusing on capital improvements and expansion plans in the Takaful segment.
- Financial Services – Involvement of Kuwait Financial Centre Markaz highlights the role of financial services in managing capital increases and supporting strategic growth initiatives.
Financials
- KWD 7 million – Total capital raised through the issuance of 70,286,789 ordinary shares during the capital increase.
- $22.90 million – Equivalent value of the capital raised in US dollars.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gulf Takaful Insurance Company K.S.C.C. | Issuer | Company | A Kuwaiti insurance company focused on Takaful insurance services, involved in the recent capital increase. |
| Kuwait Financial Centre Markaz | Lead Manager and Subscription Agent | Company | An investment banking and asset management company that facilitated Gulf Takaful's capital increase subscription process. |
| Mubarak Othman Al-Ayyar | Chief Executive Officer | Person | CEO of Gulf Takaful Insurance Company, overseeing the capital increase's execution and strategic direction. |
| Ali H. Khalil | Chief Executive Officer | Person | CEO of Kuwait Financial Centre Markaz, instrumental in managing the successful subscription process for Gulf Takaful. |
| Insurance Regulatory Unit (IRU) | Regulatory Authority | Government | Provided necessary regulatory oversight and approval for the capital increase. |
| Capital Markets Authority | Regulatory Authority | Government | Oversight and regulation to ensure compliance in the capital increase process. |
| Kuwait Clearing Company | Clearing and Settlement | Company | Managed the clearing and settlement aspects of the share issuance. |