UK takaful insurer sold to Kuwaiti buyer

Bradley Brandon-Cross Salaam Halal Insurance

The Principle Group, which traded under the Salaam Halal insurance brand, was originally authorised by the Financial Services Authority in April 2008 and entered into solvent run-off in October 2009. Al Salam will now apply to the FSA for a change of control and PIC and PMS will apply for a variation of their permissions which, if approved, would allow them to recommence trading. Al Salam is already a shareholder in Principle through its sister company, Ekttitab Holding Company. Al Sala