Managing Director, Hannover ReTakaful

Mahomed Akoob

Mahomed Akoob is a devoted and responsible leader who holds a high vision for his company, Hannover ReTakaful and strives to raise its standards every passing day.

He started his career in 1976 at Munich Reinsurance Company of Africa in different capacities including six years as General Manager. He is one of the major contributors to the takaful industry and was responsible for establishing the first Takaful Company in South Africa.

Mahomed Akoob joined Hannover Re Group in 2002 and served as the Executive Director and Chief Financial Officer of Hannover Re’s subsidiary in South Africa. He was one of the pioneers in introducing retakaful in the region. He played an instrumental role in establishing Hannover ReTakaful B.S.C. (c) in Bahrain in 2006 and promoting and developing the international takaful and retakaful industry. He brought with him a wealth of experience in both treaty and facultative underwriting and general management. The early success of Hannover ReTakaful led the Group to establish in 2008 a conventional reinsurance branch in Bahrain under his leadership.

Under the able leadership of Mahomed Akoob, Hannover ReTakaful B.S.C. (c) has grown to be the largest independently capitalized retakaful operator. Starting with a meagre portfolio of less than EUR 20 Million, today the company writes in excess of EUR 200 million.

He has successfully guided the company to become ‘the’ leader in retakaful business worldwide and be the ‘first choice’ for sharia-compliant insurance companies by offering world-class standards in products and services. His and the company’s contribution and innovation to takaful and Islamic finance have been well recognized by numerous industry societies and events and the company has been awarded many awards, among which are Best Retakaful Operator from Islamic Finance Award 2011 by CPI Financial, Dubai and the Best Retakaful Operator Award at the International Takaful Summit 2013.

For his own achievement and contribution to the reinsurance industry, he was named one of the top most influential figures for 3 consecutive years among the top 100 in the Middle East insurance industry.