Sukoon Takaful has reported a significant turnaround and a return to profitability in the financial year ended 31 December 2024.
Malaysia is expected to retain its position as the world's largest sukuk market, predominantly in Malaysian ringgit, according to Fitch Ratings in a report released yesterday.
Doha Insurance Group (DIG), the parent company of Doha Takaful Company, has announced that it plans to transform the takaful unit from a limited liability company wholly owned by the group to a private joint stock company.
The Securities and Exchange Commission of Pakistan (SECP) has amended the General Takaful Accounting Regulations, 2019, for takaful companies to disclose their takaful results in their published financial statements.
Gross written premiums for the insurance industry in Egypt registered notable growth rates in 2024 with takaful contributions, in particular, showing outstanding performance.
Government initiatives to tap funding from the Gulf Cooperation Council (GCC) countries and Islamic multilateral institutions, diversifying the financial sector and boosting financial inclusion, could support the growth of the Islamic finance industry in Central Asia, Fitch Ratings has indicated.
The board of directors of Orient Insurance has proposed the distribution of cash dividends for 2024 amounting to AED400m ($109m), representing 80% of the company's issued share capital of AED500m. In comparison, Orient paid cash dividends of AED300m for 2023.
Neova Sigorta (Neova), the first operator to launch participation insurance (takaful) in Türkiye, has announced its financial results for 2024 showing notable growth from the past year.
Family takaful contributions saw a 10.4% growth in 2024 to IDR22.61tn ($1.37bn), compared to 2024, according to the Indonesian Life Insurance Association (AAJI).
A total of 17 takaful windows or shariah business units (UUS) of insurers in Indonesia are expected to be spun off into Islamic insurance companies this year.