Crown Takaful Insurance Limited, Nigeria’s leading and most participant-friendly ethical insurance company, has set a new record in the ethical risk-underwriting insurance industry as the Board has approved the sharing of a total surplus distribution of N100.9 million to its participants. Surplus sharing is the chore principle of Takaful insurance model, which is anchored on mutual cooperation where participants contribute to a shared fund and, at the end of a defined period, any surplus remaining after claims, Re-Takaful (Re-Insurance) expenses and reserve, is returned to them. We are proud to be among the pioneers delivering the true promise of Takaful to Nigerians”, Song added. The sharing of the FY2024 surplus to its participants implies that Crown Takaful Insurance is now fulfilling one of the most fundamental promises of Takaful – that insurance is a tool not only of protection, but of shared prosperity. Since its licensing by the NAICOM and commencement of operations in 2024, Crown Takaful Insurance has achieved outstanding performance at all levels of assessment parameters, recording approximately N1.935 billion in gross contributions in its first year of operations.