Takaful Presentation on Trends by Country, Underwriters

Recent Trends in Takaful A Presentation by Claude Penland, Associate of the Casualty Actuarial Society www.ClaudePenland.com

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

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

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

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

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
T’azur Company (Takaful) treaty with Hannover Retakaful http://bit.ly/cdfmP0
African Takaful Re in Egypt http://bit.ly/9FEHdb

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 M&A activity http://bit.ly/b4grBu
Royal Award for Islamic Finance acknowledgements http://bit.ly/9lYBVq
Read more at www.TakafulMe.com

Takaful Presentation on Trends by Country, Underwriters

by CasualtyActuary on Dec 11, 2010

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Takaful Presentation on Trends by Country, Underwriters — Presentation Transcript