Etiqa Takaful intends to issue a sukuk to raise MYR300 million (US$93.2 million), said credit rating agency RAM Ratings.
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Manulife Holdings Bhd, a member of Canada-based Manulife Financial, wants to enter Malaysia's takaful market, said Group CEO Mark O'Dell.
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Al Madina Takaful has inked an agreement with Meethaq, an Islamic banking provider and part of Bank Muscat, to distribute bancatakaful products.
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All private-sector businesses must provide medical insurance for their employees and families, including Saudis and expatriates, by May this year, said the Council of Cooperative Health Insurance (CCHI).
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The General Organization for Social Insurance (GOSI), the Saudi state agency in charge of social insurance, will introduce a new insurance scheme in September to protect employees from the consequences of losing their jobs in either the private or public sector.
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New regulations governing insurance disputes took effect on 13 April, clarifying the important use of hearings before first-instance and appeal Committees at which the parties involved in a dispute are requested to set out their case and explain their arguments.
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Riyadh-based Daman Insurance Brokers has joined Worldwide Broker Network™ (WBN), a integrated network of independent property and casualty and employee benefits brokers.
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Dubai Islamic Insurance & Reinsurance Company (AMAN) and Emirates Islamic Bank have launched a takaful-backed savings plan to enable customers to invest and save for their long-term financial needs.
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Abu Dhabi-listed Methaq Takaful posted a net profit of AED2.56 million (US$697,713) in 2013, reversing from its net loss of AED5.77 million in the previous year.
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