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U.K.: Willis to offer sharia-compliant commercial real estate coverage

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Willis Group Holdings P.L.C. is set to offer sharia-compliant commercial real estate coverage in the United Kingdom, Reuters reported.

John Dilley, managing director of the Willis real estate practice, said "hand in hand with the growth in Islamic finance is the demand for sharia-compliant insurance cover, in particular for real estate investors." The coverage will be offered through the Islamic insurance platform developed by Cobalt Underwriting Services Ltd., reports Reuters. In March, Cobalt Underwriting added QBE Insurance Ltd.'s European division to its platform.

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