Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Jul 2021

Malaysia: Takaful grows faster than conventional insurance in Labuan in 2020

Source: Middle East Insurance Review | Jun 2021

Takaful and retakaful gross contributions at Malaysia’s Labuan International Business and Financial Centre (Labuan IBFC) grew by more than 13% last year.
 
This is faster than the growth rate of more than 4% in total premiums (including conventional insurance business) of the mid-shore IBFC’s insurance and reinsurance sector, a spokesperson said in an email to Salaam Gateway.
 
In all, 221 insurance and insurance-related entities operated out of IBFC in 2020, out of which six were full-fledged (re)takaful operators and 44 were Islamic insurance windows.
 
In January, the Labuan Financial Services Authority approved Munich Re Syndicate’s retakaful window, adding to the IBFC’s Islamic insurance sector. M 
 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.