The long-term vision of the Company is to become "the Islamic insurance partner of choice in Western Europe and high growth potential GCC countries, and provider of a mutual insurance alternative on a selective basis".

To work towards achieving this vision, Principle Insurance Holdings Limited intends to focus first on the British Muslim population in the UK starting with car insurance. This will be followed by other personal lines general insurance products (home), life insurance and long term savings products. Commercial insurance products will follow targeted at Small and Medium Enterprises including general liability, commercial motor, commercial property, and pecuniary loss.

The Company also believes that whilst the principles that underpin Takaful are Islamic in origin, the products may have a much broader appeal and therefore Principle plans to develop an ‘ethical’ offering to non-Muslim UK insurance consumers.

In due course, the Company will evaluate expansion opportunities in Europe and some GCC countries (such as Saudi Arabia, UAE, Qatar) where regulatory changes are expected to drive the growth of the insurance market and open up markets for international competition.

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