IslamicFinance.de

London's Shariah-compliant start-up Cobalt Underwriting has now written its first risk, via its agreement with capacity provider XL Group, to cover the deal to acquire a high-profile property portfolio. It has underwritten a property acquired by PARC Property Holding, advised by Amiri Capital, to acquire Park Crescent West. Cobalt CEO Richard Bishop believes the agreement serves to demonstrate that insurance should have a place at the forefront of the government's plans to promote Islamic finance in London. Furthermore, he reminded Islamic business leaders that insurance capacity that meets their needs is available in London.