Business insurance · Bahrain
Takaful International Company (GIG Bahrain Takaful)
Takaful (Shari'a-compliant) insurer with Contractors All Risks and other engineering cover
Market position
Takaful International Company (GIG Bahrain Takaful), established in 1989, says it was the first Islamic insurance company in Bahrain. It is a subsidiary of GIG Bahrain (Bahrain Kuwait Insurance Company) and part of the GIG group. Its engineering line covers Contractors All Risks, Erection All Risks, Machinery Breakdown and Computer All Risks.
Bahrain-specific note
Takaful International is the Takaful subsidiary of BKIC (GIG Bahrain), so a quote from both is two quotes from one group. It lists Contractors All Risks and Erection All Risks cover for contractors who want a Shari'a-compliant policy.
Pros
- + Contractors All Risks cover, extendable to third-party liability
- + Erection All Risks and Machinery Breakdown cover for plant
- + Shari'a-compliant Takaful model
- + Also offers business property, marine, liability and motor fleet cover
Cons
- − Quote-only: no public prices for engineering cover
- − Same group as BKIC, so not an independent second quote
- − Product pages give short descriptions only, without policy wordings
Typical Bahrain pricing
Quote-based; no public prices for engineering or business cover.
Why this matters for Bahrain trades
The National Bureau for Revenue administers VAT at a 10% standard rate, with registration mandatory at BHD 37,500 of annual taxable revenue; PwC’s July 2026 review found e-invoicing not yet mandatory and notes that the market expects a system similar to Saudi Arabia’s, with no confirmed start date. CRPEP licenses engineers and engineering offices under Law No. 51 of 2014, and new-building permits on Benayat are filed through a CRPEP-licensed engineering office. The Ministry of Works prequalifies contractors by category and grade for its building, roads, sanitary and landscape works; the Tender Board oversees government purchases above BHD 50,000, and bidders must register on its eTendering system; LMRA issues work permits for expatriate staff, with a higher fee under the Parallel Bahrainisation System for firms below their ratio; and the General Directorate of Civil Defense gives input on Benayat permits, with its approval letter required for a building’s completion certificate.
Bahrain construction software selection is shaped by 10% VAT administered by the National Bureau for Revenue (NBR), with e-invoicing not yet mandatory according to PwC’s July 2026 review, CRPEP licensing for engineers and engineering offices, Ministry of Works prequalification for its building, roads, sanitary and landscape works, Tender Board registration for larger government tenders, LMRA work permits and Bahrainisation ratios, and building permits through the Benayat system.
Frequently asked
Is Takaful International Company (GIG Bahrain Takaful) a good fit for Bahrain trades?
Takaful International Company (GIG Bahrain Takaful), established in 1989, says it was the first Islamic insurance company in Bahrain. It is a subsidiary of GIG Bahrain (Bahrain Kuwait Insurance Company) and part of the GIG group. Its engineering line covers Contractors All Risks, Erection All Risks, Machinery Breakdown and Computer All Risks. Takaful International is the Takaful subsidiary of BKIC (GIG Bahrain), so a quote from both is two quotes from one group. It lists Contractors All Risks and Erection All Risks cover for contractors who want a Shari'a-compliant policy.
What does Takaful International Company (GIG Bahrain Takaful) cost in Bahrain?
Quote-based; no public prices for engineering or business cover. Pricing and availability can change by region; confirm current Bahrain pricing on the vendor's site before committing.