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TAKAFUL MULTILINE PROGRAMME

Explore the Takaful Multiline Programme (TMP), established to support Takaful companies since its implementation on January 1, 2000. This programme covers subsidiaries and all willing Takaful firms, providing a quota share treaty to address proportional programmes across fire, engineering, and accident sectors. With participating companies from Saudi Arabia, Bahrain, Qatar, Jordan, and more, TMP aims to strengthen Takaful cooperation and mitigate risks in the Middle East, Africa, and Asia. Key issues concerning retention rates, treaty scope, reinsurers, and termination factors will also be discussed.

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TAKAFUL MULTILINE PROGRAMME

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  1. TAKAFUL MULTILINE PROGRAMME JEDDAH 21st & 22nd Septemper

  2. INTRODUCTION & BACKGROUND • TREATY SCOPE & CONDITIONS • PARTICIPATING CEDING COMPANIES • REINSURERS • STATISTICS & PERFORMANCE • TREATY TERMINATION • CONCLUSIONS

  3. INTRODUCTION & BACKGROUND • TAKAFUL COOPERATION :CASE OF COOPERATION ON COMMON PROJECTS • DEMONSTRATION OF HIGH OPINION ON TAKAFUL BY REINSURERS

  4. INTRODUCTION & BACKGROUND • BEST RE NEEDED TO COVER TAKAFUL SUBSIDIARIES CESSIONS THAT EXCEDED OUR RETROCESSION PRGR CAPACITY. • TMP WAS BORN AND WAS MADE TO COVER NOT ONLY THE SUBSIDIARIES BUT ALL TAKAFUL COMPANIES THAT WISHED TO JOIN THE PROGRAMME • TMP BECAME EFFECTIVE JAN 1st, 2000

  5. TREATY SCOPE & CONDITIONS • REASSURED: BEST RE • TYPE: QUOTA SHARE • TO COVER ALL PROPORTIONAL PROGRAMMES OF TAKAFUL CIES ACCEPTED BY THE REASSURED AS FIRE, ENGINEERING & ACCIDENT TREATIES • TERRITORIES: AFRICA, MIDDLE-EAST, ASIAN COUNTRIES

  6. TREATY SCOPE & CONDITIONS • RETENTION : 40% of Any one Treaty or Program • LIMITS: FOR Any one Treaty or Program • SECTION A : FIRE & Allied USD 4,000,000 • SECTION B : ENGINEERING USD 2,000,000 • SECTION C : ACCIDENT USD 1,000,000 • SECTION D : MARINEUSD 1,000,000

  7. PARTICIPATING CEDING Cies • Islamic Arab Insurance Co (Saudi Arabia) • Takafol Islamic (Saudi Arabia) • Al Rajhi Islamic (Saudi Arabia) • Takaful International (Bahrain) • Qatar Islamic (Qatar) • Islamic Insurance Co (Jordan) • Savana Insurance (Sudan) • Watania Coop. (Sudan)

  8. PARTICIPATING CEDING Cies • Al Baraka Insurance (Sudan) • Sosar Al Aman ( Senegal ) • Al Baraka Oua Al Amane (Algeria) • Taamine D’Assurances Islamiques (Mauritania) • Takafol Nasional (Malaysia) • Syarikat Takaful (Malaysia) • Takaful IBB (Brunei) • Takaful Umum (Indonesia)

  9. REINSURERS U/Y 2000 • LABUAN RE :20% • CHIYODA UK :10% • MILLI RE :7.5% • ROYAL & SUN Alliance Re :7.5% • RELIANCE Int’l U/W Ltd :5.5% • CORIFRANCE :5.0% • ARAB RE :3.0% • ASEAN RETAKAFUL :2.0%

  10. REINSURERS U/Y 2001 • IDENTICAL PLACEMENT TO U/Y 2000 EXCEPT :+ 5% TO ASIAN RE • Q/S RETENTION : 35%

  11. STATISTICS U/Y 2000

  12. STATISTICS U/Y 2001

  13. STATISTICS

  14. REASONS FOR TPM TERMINATION • FIRST YEAR WENT WITHOUT ANY PROBLEM • FOR THE SECOND YEAR : • PROBLEMS IN RECEIVING DOCUMENTS & INFORMATIONS FOR ACCOUNTS MAKING • TREATY CLAUSES WERE NO MORE RESPECTED • SITUATION BECAME DETRIMENTAL TO THE TREATY & TO TAKAFUL IN GENERAL

  15. THANK YOU

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