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Our History and Brands

Principle Insurance Holdings Limited was born out of British Islamic Insurance Holdings Limited, a private limited company established in the UK in February 2006, with the strategy of developing and launching the UKs first Takaful insurance, targeted at Britain’s 2 million Muslims.

The company has significant financial backing from both institutional, and some private, investors predominantly from GCC countries, including the Kingdom of Saudi Arabia, Bahrain, Kuwait and the UAE, and also from Malaysia.

In developing its business strategy, it soon became clear that there was a broader ethical dimension to Takaful insurance, in particular it’s mutuality and investment policy, which was attractive to non-Muslims as well as Muslims. As a result the business decided that whilst it would launch general insurance into the Muslim market, with an expectation of some non-Muslims adopting the offer, that it would in due course explicitly develop a general insurance offer for ethical consumers too. The result of this was to create a holding company that would be ‘values’ based insurer who would develop and offer insurance tailored to be compatible with individuals personal values and ‘principles’. To reflect this positioning ‘Principle Insurance Holdings Limited' was created as the brand for the holding company.

The initial launch of Takaful insurance into the UK market is targeted at the Muslim market, and for this a customer orientated brand was needed so that Muslim consumers would understand that the insurance was tailored to their specific needs. This brand is Salaam Halal insurance.

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