Alliance Assurances, Algeria’s only publicly traded insurance company, has introduced a new Sharia-compliant insurance offering called Alliance-Takaful. This new line of business will cover various insurance types, including auto and natural disaster coverage, adhering to Islamic law principles. The move represents a strategic expansion for Alliance Assurances, responding to growing demand for faith-based financial products. Alliance-Takaful aims to provide insurance solutions aligned with religious beliefs while maintaining comprehensive coverage. The company anticipates this offering will attract a wider customer base within Algeria. This launch positions Alliance Assurances as a pioneer in the Algerian insurance market by integrating Islamic finance principles. Further details regarding the specifics of the Takaful model were not immediately available.