Takaful
UK insurance industry primed to target takaful opportunities
Political proposals to transform Britain into a leading Islamic finance hub would open up a lucrative untapped market to Lloyd’s players and beyond, according to industry analysts.
Global takaful market "in its infancy"
The global takaful industry grew 16% in 2012 and the growth potential is huge according to a report by EY.
Takaful specialist joins Miller in Malaysia
Razi Sulaiman, a treaty reinsurance and takaful specialist, has joined Miller in Malaysia.
Shariah compliant MGA closing in on QBE capacity deal
The chief executive of a newly launched shariah compliant managing general agent has revealed the business is close to adding support from QBE Europe and a further “major” underwriter to existing capacity from XL.
Asia View from the Top: Islamic insurance at the crossroads
Steven Dewhurst, partner at DAC Beachcroft, suggests regulatory action is needed to help tighten up the takaful market.
Takaful: The Islamic state
Despite centuries of tradition and an estimated worldwide value in the billions, Takaful insurance, grounded in sharia‑compliant practices, has struggled to find traction in the UK.
XL to offer Shariah products in Malaysia and Singapore
XL Group will offer Shariah-compliant insurance to large corporate and middle market clients, including companies in Malaysia and Singapore.
Capita and XL back Lloyd's-based Shariah-compliant start-up
A Shariah-compliant underwriting agency has been launched in the London market with the financial backing of Capita and the Bank of London & Middle East, and capacity provided by XL.
Bahrain woos international players with new takaful model
Bahrain’s insurance regulator hopes new regulations will make Bahrain the jurisdiction of choice for takaful and retakaful globally.
Hiscox backs mosque and Islamic school scheme
Niche mosque scheme Faithsure, which is underwritten by Hiscox, has started providing wholesale access through brokers.
Takaful not confined to "bread and butter" lines
The retakaful industry is no longer plagued by the lack of capacity it was in its early years, according to Mahomed Akoob.
Bahrain sees 9% jump in premiums in Q3 2012
The Central Bank of Bahrain has announced that the local insurance market posted growth during the third quarter of 2012, with gross premiums increasing by 9% over the same period of 2011 to register BD184.11m (£307.85m) by the end of September 2012.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
Regulatory overhaul threatens Malaysia insurers' margins
Regulatory changes and on-going capital market volatility could challenge the earnings stability of Malaysia's insurance and takaful sector, according to Fitch.
Islamic microfinance highlighted as only "viable" solution to global poverty
Islamic microfinance is the only viable way of alleviating poverty around the globe.
Middle East Blog: 2012's soothsayer
How I wish that the end of year results would prove me wrong because that would mean that insurance companies in the United Arab Emirates performed better than expected.
Indonesia or bust?
Indonesia offers considerable opportunities for foreign insurers, but the market is not without challenges.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven day.
Takaful's key markets diverging, says S&P
Takaful companies in south east Asia appear more healthy and sustainable than their counterparts in the Gulf, according to the latest report by Standard and Poor's.
Tokio Marine to sell takaful through Saudi joint venture
Tokio Marine Middle East, the Dubai-based regional hub of Japanese insurer Tokio Marine, is to launch a new Saudi joint venture, according to reports in the local press.
Oman consults Malaysia over draft Takaful rules
UK law firm Clifford Chance has submitted draft proposals for legislation to cover Takaful in the Sultanate of Oman.
Pakistan takaful industry opens to general insurers
The Securities and Exchange Commission of Pakistan has issued revised takaful rules for 2012 allowing conventional insurance companies to open takaful window operations.
Indonesia's economic stability fuels non-life growth
Indonesia's solid economy is fuelling growth for a developing non-life insurance market, well supported by domestic consumption and investment which is offsetting a weaker international environment, according to ratings agency AM Best.
Opening the Takaful market
Initial forays into the Takaful market in the UK have so far met with failure. Despite this, there is still a conviction that a relevant Takaful market exists.