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Takaful Presentation

Takaful Presentation

Actuarial
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Takaful Presentation

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  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 conceptwhich 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 • T’azur 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 M&A 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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