Participation insurance (akin to takaful), which grew by 93.7% in the first half of the year, increased its market share in Turkiye to 5.5% with a premium volume of TRY21.25bn ($633.6m), according to data compiled by the Insurance Association of Turkiye (TSB).
The Malaysian insurance and takaful sector has a stable outlook, which is supported by steady growth in insurance demand, with capitalisation robust and claims under control, says RAM Ratings.
The Licensing and Regulatory Framework for Digital Insurers and Takaful Operators (DITO) Policy Document was released by Bank Negara Malaysia (BNM), the country's regulator, in July 2024.
The operating performance of Egyptian Takaful Property & Liability Insurance Company (EGTAK is assessed as adequate, says AM Best.
Al Salam Bank, in collaboration with Solidarity Bahrain, has announced the launch of the first multi-year takaful insurance for cars in Bahrain.
Société Tunisienne de Réassurance (Tunis Re) has promising prospects and is expected to improve its financial performance, indicates BMCE Capital Securities.
Muzn Islamic Banking, the Islamic banking window of National Bank of Oman, has formed a partnership with Takaful Oman, to offer its customers a wide range of takaful products.
The Financial Services Authority (OJK) has revealed that two insurance companies will spin off their takaful windows this year by establishing takaful companies.
The insurance industry, including takaful, grew by 4% to DZD48.4bn ($359.6m) in 1Q2024 in terms of overall revenue (direct and reinsurance acceptances), according to provisional data from the National Insurance Council (CNA).
Cost of medical care in Malaysia is rising, Etiqa Family Takaful CEO Zafri Ab Halim said.