Egyptian Takaful Company (Life) grew contributions by 89.4% y-o-y to EGP233 million (US$32.6 million) during the fiscal year ending on June 2014, said Managing Director Hisham Abdel Shakour.
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RAM Ratings Services has assigned a stable outlook to Malaysia's takaful and insurance sector, based on favourable growth prospects, insurers' strong capitalisation levels and a stable regulatory framework.
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Syarikat Takaful Malaysia is confident of a MYR20 million (US$6.2 million) rise in profit at the end of 2015, driven by its employee benefits plan for small and medium enterprises (SMEs).
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AIA Public Takaful has launched a new product, A-LifeLink-i, for customers seeking to meet their financial goals with Islamic investment instruments.
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Riyadh-based Public Pension Agency (PPA), Saudi Arabia's second-largest pension fund, saw its returns on investments slide to 8.1% in 2013, compared to 9.8% a year ago, despite strong gains in the stock market, said media reports.
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The National Constituent Assembly has adopted amendments to the insurance law that establishes a legislative framework to govern takaful.
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Conventional insurers in Pakistan, including United Insurance Co (UIC), Jubilee Insurance and EFU Group, are reportedly applying to set up takaful window operations.
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(Salama/ IAIC) to stable from negative, and affirmed its 'BBB+' counterparty credit and financial strength ratings.
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Abu Dhabi-listed National Takaful Company (Watania) said its majority shareholders had agreed to sell stakes to strategic investors from the Gulf region, but did not name the selling or buying parties.
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Abu Dhabi National Takaful posted a net profit for the period ended 30 June of AED15 million (US$4 million), down 24% y-o-y, mainly due to the increase in net claims incurred in motor and intense rate competition in all lines of business.
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General takaful operator Dar Al Takaful recorded AED2.5 million (US$68,199) in profits for the first half of 2014, following its loss of AED3.8 million in the first half of 2013.
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