- Allied Insurance won two awards at the 11th IFFSA Awards 2026 in Colombo, Sri Lanka.
- Allied Takaful was named Islamic Finance Entity of the Year and Kamana Takaful won Islamic Finance Product of the Year.
- The awards reflect 2025 initiatives including discontinuing conventional life insurance and making Takaful the only app option, boosting revenue.
Allied Insurance Company of the Maldives has won two awards at the 11th Islamic Finance Forum of South Asia (IFFSA) Awards 2026, following changes to its life insurance offering and digital channels to expand its Takaful business.
The company’s Islamic window, Allied Takaful, was named Islamic Finance Entity of the Year, while Kamana Takaful received the Islamic Finance Product of the Year award.
The ceremony took place on 20 October at Shangri-La in Colombo, Sri Lanka. Organised by UTO EduConsult under the theme “Building Legacies,” the event brought together financial institutions, industry professionals and other stakeholders to recognise achievements in Islamic banking and finance across South Asia.
According to Allied, the awards reflect initiatives undertaken during 2025 to develop its Takaful business. These included discontinuing the sale of conventional life insurance products and offering Family Takaful as the company’s life protection solution.
Allied also changed how new customers access insurance through its app, removing the conventional insurance option and making Takaful the only option visible to them.
The company said these measures, alongside marketing, customer education and community engagement activities across major cities in the Maldives, contributed to a significant increase in Takaful revenue between 2024 and 2025.
Allied said it would continue working to expand access to Takaful and improve public awareness, supporting the development of Islamic finance in the Maldives.
