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Takaful News

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Title: Takaful News


1
Recent Trends in Takaful A Presentation
by Claude Penland, Associate of the Casualty
Actuarial Society www.ClaudePenland.com
2
What is Takaful?
  • Takaful is an Islamic insurance concept which is
    grounded in Islamic muamalat (banking
    transactions), observing the rules and
    regulations of Islamic law.
  • See http//en.wikipedia.org/wiki/Takaful
  • Also see www.TakafulMe.com

3
Recent Country Trends
  • Bahrain market growing http//bit.ly/9N8AOB
  • Ireland looks to introduce Islamic Finance laws
    http//bit.ly/i73DBE
  • Takaful is fastest-growing area of Saudi Arabian
    market http//bit.ly/9YJYk1
  • Saudi Arabian market may consolidate
    http//bit.ly/fIv2Aw
  • Islamic finance in East Africa is increasing
    http//bit.ly/bEIDKj

4
Country Trends, continued
  • Malaysia needs Takaful-qualified employees
    http//bit.ly/cUjTmg, but is developing them
    http//bit.ly/9UyipV
  • Bermuda a future possible growth area
    http//bit.ly/bHWWd7
  • Regulations governing Takaful separated from
    traditional insurers in UAE http//bit.ly/cB3Ar8
  • Russia is considering Sharia banking as an
    initial step http//bit.ly/epWAEr

5
New / Growing Underwriters
  • 4 New Malaysian licenses http//bit.ly/gJeqhb
  • 5 New UAE writers expected in 2011
    http//bit.ly/d9GNVn
  • Abu Dhabi National http//bit.ly/ahUBLh
  • ING http//bit.ly/9FUjfr
  • Great Eastern looks to expand Takaful in China,
    Brunei, Singapore and Indonesia
    http//bit.ly/a8aDjD
  • Takaful Brunei Darussalam Sendirian Berhad
    launched due to merger http//bit.ly/h6YGXr

6
Underwriters, continued
  • Gulf Takaful in Kenya http//bit.ly/cfh7Vq
  • FCB Takaful in Kenya http//bit.ly/9zuafh
  • Halal Takaful http//bit.ly/9rDtp4
  • MAA Takaful expects growth http//bit.ly/bQD1MB
  • Tazur Company (Takaful) treaty with Hannover
    Retakaful http//bit.ly/cdfmP0
  • African Takaful Re in Egypt http//bit.ly/9FEHdb

7
Recent Product Distribution Trends
  • Dual agencies that sell both traditional
    insurance and Takaful are growing
    http//bit.ly/eOjRyP
  • Defaults, liquidations and downgrades have been
    substantial, pointing to significant future MA
    activity http//bit.ly/b4grBu
  • Royal Award for Islamic Finance acknowledgements
    http//bit.ly/9lYBVq
  • Read more at www.TakafulMe.com
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