Qatar's listed insurance companies posted a combined net loss of QAR360m ($99m) for the financial year ended 31 December 2023, according to annual financial statements lodged by the companies with the Qatar Stock Exchange.
Takaful companies paid out a total of MYR8.74bn ($1.85bn) in 2023, 24.40% higher than in 2022, according to data released by the Malaysian Takaful Association (MTA).
Maybank Ageas Holdings Berhad (MAHB) reported an unaudited net profit after tax of MYR353.9m [$75m] in 1H2023 (1H22 restated: net loss of MYR95.8m) under the new accounting standard, IFRS 17, notes Fitch Ratings.
The Indonesian Shariah Insurance Association (AASI) is seeking support that can be lent by the halal ecosystem to expand shariah insurance business, according to the association's general chair Rudy Kamdani.
The recorded after-tax profits of Oman's eight listed insurance companies saw an increase to OMR21.5m ($56.2m) in 2023 from OMR15.2m in 2022, marking a 42% increase, according to an analysis by Badri Management Consultancy.
Toronto-based Canadian management general agent has launched Ethical Insurance which is described as Canada's first shariah-compliant insurance provider.
Syarikat Takaful Malaysia Keluarga (Takaful Malaysia) has posted consolidated takaful revenue of MYR2,942.1m ($621m) for the financial year ended 31 December 2023, higher by MYR371.6 m (14%) as compared to 2022.
Takaful International, which is a subsidiary of GIG Bahrain, has posted a net profit attributable to shareholders of BHD937,289 ($2.48m), in 2023, compared to BHD858,000 in 2022, representing an increase of 9%.
FWD Group Holdings (FWD Group) yesterday announced the completion of an additional investment of a further 21% stake in FWD Takaful.
Sukoon Insurance Company has announced that it has obtained the necessary approvals from the regulatory authorities to submit an offer to the remaining shareholders of Arabian Scandinavian Insurance Company - Takaful (ASCANA).