Reality check on takaful reaffirms its entrenched position
Takaful is increasing its penetration and growing strongly in the world including in the non-Muslim markets of the world though it still faces several uphill challenges, said the speakers at the 5th Asian Takaful Conference in Singapore which took a reality check on the growth of takaful as a dynamic force.
Malaysia: STM eyes $6m contributions from new products
Syarikat Takaful Malaysia (STM) hopes to rake in at least RM20 million (US$6 million) in contributions in a year with the launch of three new savings and investment related products, according to Managing Director Datuk Mohamed Hassan Kamil at the recent launch.
Saudi Arabia: Solidarity to launch IPO later this month
Solidarity Saudi Takaful Company is to offer 22.2 million shares in an initial public offering (IPO) later this month, according to several news reports citing the company's Chairman Prince Khalid bin Talal bin Abdulaziz Al Saud.
Dubai-based Insure Direct, a provider of insurance broking services, has enhanced its operations in Abu Dhabi after finalising a management service agreement with insurance broker Lloyd & Co (Emirates) based there.
UAE: ADNIC's gross premium reached US$370 bln in 2009
Abu Dhabi National Insurance Co's (ADNIC) gross written premium grew from AED1.36 billion (US$370.3 million) in 2008 to AED1.55 billion last year, due to its expanding customer product suite and distribution network.
