Business insurance · Bahrain
GIG Takaful (Takaful International)
Bahrain’s pioneer Shariah-compliant CAR & engineering cover
Market position
Established 1989 as the first Islamic insurer in Bahrain, now a GIG Bahrain subsidiary (branded GIG Takaful) with a GIG-group A- (AM Best) association. Its Contractors All Risks product indemnifies against sudden physical loss/damage to contract works and extends to third-party liability during the construction period.
Bahrain-specific note
Same group as BKIC — the Takaful alternative rather than a fully independent third option. Appears as both "Takaful International" and "GIG Takaful."
Pros
- + Confirmed CAR product extending to construction-period third-party liability
- + Sharia-compliant for contractors who require it
- + Backed by GIG Bahrain / Gulf Insurance Group
Cons
- − Quote-only pricing
- − Smaller standalone scale than parent BKIC
- − Effectively the Takaful arm of the same GIG group as BKIC (overlap)
Typical Bahrain pricing
Quote-based / risk-rated (not public) — standard for Gulf engineering cover
Why this matters for Bahrain trades
VAT is administered by the National Bureau for Revenue at 10% — the GCC’s highest — with no e-invoicing mandate yet; CRPEP licensing is mandatory to practise engineering or run an engineering office (and to file Benayat permits); the Ministry of Works classifies contractors for public works; Tender Board registration is required to bid; LMRA controls work permits and enforces Bahrainisation; building permits run through Benayat; and Civil Defence enforces NFPA-based fire safety.
Bahrain construction software selection is shaped by the GCC’s highest VAT rate (10%, via the NBR), mandatory CRPEP licensing for engineers and engineering offices, Ministry of Works contractor classification gating public works, Tender Board registration, LMRA work permits and Bahrainisation quotas, and building permits through the Benayat e-system — with no e-invoicing mandate yet, unlike Saudi or the UAE.
Frequently asked
Is GIG Takaful (Takaful International) a good fit for Bahrain trades?
Established 1989 as the first Islamic insurer in Bahrain, now a GIG Bahrain subsidiary (branded GIG Takaful) with a GIG-group A- (AM Best) association. Its Contractors All Risks product indemnifies against sudden physical loss/damage to contract works and extends to third-party liability during the construction period. Same group as BKIC — the Takaful alternative rather than a fully independent third option. Appears as both "Takaful International" and "GIG Takaful."
What does GIG Takaful (Takaful International) cost in Bahrain?
Quote-based / risk-rated (not public) — standard for Gulf engineering cover. Pricing and availability can change by region — confirm current Bahrain pricing on the vendor's site before committing.