Gulf Takaful Insurance Company Successfully Completes Capital Increase of $22.90mln

KUWAIT CITY - In its capacity as the issuer, Gulf Takaful Insurance Company ‎K.S.C.C. “GTIC”, and the Kuwait Financial Centre “Markaz”, the lead manager and ‎subscription agent, announced in a joint statement the successful completion of GTIC’s ‎capital increase, raising a total value of KWD 7 million through the issuance of ‎‎70,286,789 ordinary shares at a subscription price of 100 Kuwaiti fils per share, ‎representing 70% of the issued and paid-up capital of the company. The subscription ‎period for the rights issue ran from 10 June to 24 June 2025.‎

Mr. Mubarak Othman Al-Ayyar, Chief Executive Officer (CEO)at Gulf Takaful ‎Insurance Company, expressed his contentment with the successful subscription ‎process, which reflects the shareholders' confidence in the quality and performance of ‎the company.

He also praised the professionalism with which the subscription was managed by ‎Markaz, stating: "The subscription process fulfilled all the necessary regulatory ‎procedures for the issuance of shares. 

The proceeds from the capital increase will be ‎directed toward enhancing the company's solvency margin in line with prevailing ‎regulatory requirements. It will also contribute to implementing the company’s ‎expansion strategy, supporting its general corporate purposes, continuing the execution ‎of its plans, and strengthening its position in the Takaful Insurance Sector both locally ‎and regionally. 

We value the active role played by all, the Insurance Regulatory Unit ‎‎(IRU) officials, the Ministry officials, the Capital Markets Authority and Kuwait Clearing ‎Company team in the successful execution of the capital increase. We also thank team ‎Markaz for managing the subscription process with utmost professionalism, efficiency, ‎and seamless coordination across all stages of the offering."‎

On this occasion, Mr. Ali H. Khalil, Chief Executive Officer at Markaz, stated: “We are ‎proud at Markaz to have played a pivotal role in the success of the subscription process ‎as the issuance manager and receiving agent. 

This reflects our ongoing commitment to ‎supporting our clients in achieving their strategic growth goals. 

We mobilized our ‎extensive expertise in the capital markets sector and our highly skilled teams to ensure ‎the subscription process was carried out in accordance with the highest professional and ‎regulatory standards.

 We thank Gulf Takaful Insurance Company for their valued trust in ‎Markaz’s capabilities to manage the capital increase subscription.

 This achievement ‎highlights the strength of our partnership and further reinforces our position as a ‎trusted partner in the investment banking sector."‎