IslamicFinance.de

AXA Insurance has teamed up with Cobalt Underwriting to create a new Shariah-compliant insurance product for the real estate sector. As part of the partnership, AXA directly manages the trading and underwriting of the product. Cobalt employs in-house Shariah scholars who provide each client with Shariah compliance certification. The new product is part of AXA’s wider strategy to bring new products to under-served sections of the insurance market. Ryan Birbeck, head of real estate specialty at AXA Insurance, said that the addition of a Shariah-compliant insurance policy was an obvious move as overseas investment continues to flow into the UK real estate sector.