Orient UNB Takaful — Key Facts
| Full Name | Orient UNB Takaful PJSC |
| Founded | 2009 |
| Headquarters | Dubai, UAE |
| Listed On | Dubai Financial Market (DFM) |
| Parent Companies | Orient Insurance + Union National Bank (UNB) |
| Insurance Type | Sharia-compliant (Takaful) — General Insurance |
Orient UNB Takaful PJSC is a UAE-based Sharia-compliant general insurance company — a joint venture between Orient Insurance PJSC and Union National Bank (UNB). The company is listed on the Dubai Financial Market and provides Islamic general insurance products including motor, property, marine cargo, travel, and medical insurance to individuals and businesses in the UAE.
Who Owns Orient UNB Takaful?
Orient UNB Takaful is co-owned by two major UAE financial institutions. Orient Insurance PJSC — one of the UAE’s largest conventional insurance companies, which is part of the Al-Futtaim Group — holds a significant stake. Union National Bank (UNB), which later merged with Abu Dhabi Commercial Bank (ADCB) in 2019, was the original bank partner. The company is listed on the Dubai Financial Market (DFM), with additional public shareholders holding the float. It operates under the regulatory oversight of the UAE Central Bank and the Insurance Authority.
History and Background
Orient UNB Takaful was established in 2009 as a joint venture designed to capture the growing demand for Sharia-compliant general insurance in the UAE. The partnership brought together Orient Insurance’s deep underwriting expertise and UNB’s retail banking distribution network, allowing Takaful products to be cross-sold through the bank’s branches. The company completed its IPO on the Dubai Financial Market as part of its growth strategy.
Products and Services
Orient UNB Takaful’s product range covers motor Takaful (vehicle insurance), home and property Takaful, marine cargo Takaful, travel insurance, group medical Takaful, and personal accident coverage. All products operate under the Sharia-compliant Wakala model, where the company manages participants’ Takaful funds as an agent, with surplus shared among policyholders.
