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