Allied Insurance has won two awards at the 11th Islamic Finance Forum South Asia Awards 2026 (IFSA), recognising its Takaful services and products.

The company’s Islamic insurance window, Allied Takaful, won the Islamic Finance Entity of the Year award, while its Kamana Takaful product received the Islamic Finance Product of the Year award.

Allied said the awards recognized efforts to expand its Takaful business during 2025.

As part of its strategy, the company discontinued conventional life insurance products and introduced family Takaful as a life protection solution. It also expanded its focus on Takaful through digital channels, making it the only insurance option available through the Allied app.

The company attributed an increase in Takaful revenue between 2024 and 2025 to marketing activities, customer awareness initiatives and community engagement across the country.

Allied said the awards reflected its commitment to expanding Takaful services, raising public awareness and promoting Islamic finance in the Maldives.

The IFSA Awards ceremony was held at the Shangri-La in Colombo last Tuesday. Organized by UTO Educonsult under the theme “Building Legacies”, the event brought together professionals, financial institutions and other stakeholders from across South Asia to recognize achievements in Islamic banking and finance.