About us

Cobalt Underwriting – Providing ethical protection since 2012

We are a focus for the distribution of Shariah compliant insurance worldwide, enabling capacity providers to gain access to a trillion-dollar industry

Cobalt Underwriting is the world’s first Shariah compliant insurance underwriting agency. Cobalt Underwriting provides specialist Shariah compliant products and services to support the commercial activities of the global Islamic finance industry, and acts as a single focus for London in the distribution of Shariah compliant insurance business around the world.

Cobalt’s mission is to help London become a global centre for the provision of insurance and reinsurance capacity that satisfies the principles of Shariah.

Cobalt Underwriting itself is incorporated and founded upon the ethics and principles of Shariah. These principles include the need for transparency, certainty and fairness in any transaction or business dealing. Cobalt Underwriting  has adopted a unique insurance facility, which is authentic and certified as Shariah compliant.

Cobalt Underwriting enables Islamic financial institutions and corporations to access Shariah compliant insurance products backed by capacity from the world’s insurance market. It is based within the City of London amongst the world’s leading insurance brands, including Lloyd’s of London and is supported by capacity from several of the globe’s leading insurance carriers providing protection for commercial risks.

With the increase of Islamic assets, Shariah compliant Investments funds and Shariah compliant financing, amongst others, there has been an increase in demand for Shariah compliant risk management solutions. In addition, the Shariah Scholars, investors, Islamic finance practitioners and Muslim clients have become increasingly frustrated having to resort to the principle of necessity (“dharura”) and purchase non-Shariah compliant protection due to the lack of insurance products that comply with the principles of Shariah. With Cobalt able to access capacity from across the London Market, they are now in a strong position to identify reliable, practical and financially viable solutions to meet the growing demand and satisfy global clients.

Cobalt Underwriting provides solutions for large commercial and corporate risks, and will initially look to provide Shariah-compliant insurance and reinsurance in the following areas:

  • Commercial property
  • Political Violence, sabotage and Terrorism

The Cobalt Group was started in 2012, backed by Capita, a FTSE100 company, and the Bank of London and the Middle East (BLME) and is formed of two operations:

  • Cobalt Underwriting – a specialist commercial underwriting agency based in the London Market
  • Cobalt Advisory – providing Shariah audit, training and certification
  • Cobalt Insurance Holdings is the umbrella company for both above companies

Our capacity is provided by a number of established insurers, all with an S&P rating of at least A or above.


Company Directors

Max Taylor

Chairman of Cobalt Insurance Holdings Limited

Max began his career with Willis Faber and Dumas in 1970, and has more than 40 years of industry experience covering both broking and underwriting organisations. He is a previous Chairman of Lloyd’s of London and Deputy Chairman of Aon Corporation’s UK operations and Chairman of BIBA (British Insurance Brokers Association). Apart from Cobalt Insurance Holdings Chairman, he is also Chairman of Islamic Insurance Association of London.


John Williams

Director of Cobalt Insurance Holdings Limited & Cobalt Underwriting Services Limited

Mr. Williams has over thirty years of worldwide insurance and reinsurance industry experience. Mr. Williams co-founded Trebuchet Group Holdings Limited (formerly Armour Group Holdings and Brevan Howard P&C Partners Limited), in 2007 and is the President.  He was co-founder and President of Castlewood Limited, a leading provider of run-off products for the insurance industry which he started in 1993.Mr. Williams started his insurance career in the London market before moving to Bermuda in 1981 and served as a the Underwriter and chief operating officer of one of Bermuda’s largest independent reinsurers Mr. Williams currently serves on the Insurance Advisory Committee appointed by the Minister of Finance and previously served as the Chairman of the Bermuda Independent Underwriters Association and was a member of the Insurance Admissions Committee which is appointed by the Bermuda Minister of Finance.


Anne Plumb

Director of Cobalt Underwriting Services Limited

Anne has had a 30 year career in the insurance/reinsurance market, holding a variety of senior positions in the Company and Lloyd’s Markets in London and overseas.

Eleven years of her career was at Swiss Re as a regional property manager in Asia Pacific, establishing and running significant and profitable books of business and managing teams across different countries. Upon returning to the UK, she became Managing Director of Swiss Re Energy Team in London, underwriting in a lead capacity and dealing with senior management of the world’s major oil and gas producers.

After 11 years, Anne moved into the Lloyd’s Market and worked as a lead underwriter and team leader at several Lloyd’s Syndicates, underwriting International and US property business (Open Market and Delegated authority).

At Cobalt, Anne runs the MGA on a day-to-day basis. The MGA offers ‘A’ rated insurance capacity for Shariah compliant products.

Anne holds a Masters in Management and an undergraduate degree in European languages and Politics.


Shariah Supervisory Board

Cobalt’s Sharia Supervisory Board is chaired by one of the world’s leading Sharia Scholars Sheikh Nizam Yaquby who works with an experienced management team to ensure the products offered meet Islamic regulations.

Sheikh Nizam Yaquby

Chairman of the Shariah Supervisory Board

Mufti Muhmmad Nurullah Shikder

Member of the Shariah Supervisory Board


Sheikh Zubair Miah

Secretary to the Shariah Supervisory Board & Internal Shariah Advisor & Compliance


Contact Us

Cobalt Underwriting Services
1st Floor, 63 St Mary Axe
London EC3A 8AA


020 3642 0200 (Main)

Cobalt Underwriting Services

Cobalt Underwriting Services Limited (“CUSL”) is a company incorporated in England, Company Number 07979365, and authorised by the Financial Conduct Authority (FRN 605713) under Part IV permission to undertake a range of regulated activities.

CUSL operates as a fully Shariah-compliant Underwriting Agency (or Managing General Agent) based in the City of London focusing on the provision of Shariah-compliant insurance and reinsurance products and services.