Our concept

Insurance built on mutual assistance

Takaful, rooted in the Islamic principle of mutual assistance, is an insurance model centered around risk sharing among participants.

Unlike conventional insurance, where risk is transferred to a company for a premium, Takaful operates on the principle of collective responsibility.

Shared Surplus

Takaful participants contribute to a common fund from which claims are paid. Any surplus generated is shared among the participants, reflecting the cooperative nature of the model. This contrasts with conventional insurance where profits typically belong solely to the insurer.

Ethical and Sustainable

Noor Takaful, a pioneer in Nigeria's Takaful industry, adheres to strict ethical standards, avoiding coverage for activities such as gambling, alcohol and prostitution.

As a 100% Nigerian-owned company, we are committed to providing ethical and sustainable insurance solutions tailored to the needs of the Nigerian market.

Equitable and Transparent

Essentially, Noor Takaful offers a more equitable and transparent approach to insurance, aligning with the values of many Nigerians — and the best part is that our solutions are open to everyone regardless of religion or ethnicity.

Core values

What makes us E.T.H.I.C.A.L.

E: Equity and Fairness
Equity and Fairness guide every decision we make. We are built on mutual cooperation and shared responsibility, we ensure that all participants are treated justly, transparently, and without bias.
We manage contributions with integrity, assess claims with objectivity, and distribute benefits equitably upholding trust and accountability at every level.
T: Teamwork
Teamwork is the cornerstone of our success and we foster an environment where everyone feels valued, respected and empowered to contribute their unique skills and perspectives. Through open communication, mutual support and a shared sense of purpose, we strive to create a positive and productive work culture where we achieve great things together.
H: Honesty
We act with honesty and sincerity in all business dealings, building trust with partners, employees and stakeholders. We are also committed to upholding ethical standards in every aspect of our operations.
I: Innovation
We embrace a culture of continuous learning, experimentation and adaptation. Our team is dedicated to exploring new ideas, technologies, and approaches to deliver innovative ethical insurance solutions that meet the evolving needs of our stakeholders. By fostering a spirit of creativity and collaboration, we strive to be at the forefront of providing cutting-edge products and solutions that exceed expectations.
C: Compliance & Competence
We are committed to adhering to all applicable laws, regulations and industry standards, as well as maintaining strong relationships with policy makers to ensure that products and services align with legal and ethical frameworks. This also means that we continuously improve our knowledge and skills to provide exceptional service to our participants and all stakeholders.
A: Accountability
We believe in taking ownership of our actions and being accountable for our results, which is why we are committed to transparency, honesty and integrity in our business approach. We hold ourselves to the highest standards of professionalism and foster a culture of accountability, by delivering on our promises to our participants and stakeholders.
L: Leadership & Professionalism
Our work environment is positive and supportive, and everyone feels valued, respected and motivated to contribute their best. We also uphold the highest standards of professionalism, and demonstrate our commitment to excellence and building trust with our participants, partners and stakeholders.

See what this means for you

Whether through claims when you need them or a share of the surplus when you don't, you come out ahead.