MNRB Holdings has reported a 36.93% increase in its third quarter net profit which amounts to MYR115.86m ($25.90m) registering a surge from MYR84.61m a year earlier. The company has achieved this milestone on the back of a MYR136.7m jump in the group's insurance service earnings.
Oman Reinsurance Company (Oman Re) has launched its retakaful window starting 1 January 2025, the reinsurer told Middle East Insurance Review (MEIR). The step represents a significant milestone in the reinsurers' journey to deliver specialised and shariah-compliant risk solutions.
Watania Takaful Family (WTF) has announced a new strategic partnership with Aura, the state-of-the-art health insurance platform, to deliver faster and more tailored services for small and medium enterprises (SMEs) in the UAE.
Digital payments and financial services provider SeaMoney in partnership with Takaful Ikhlas General Bhd will offer motor takaful protection on the Shopee app.
The National Insurance Commission of Nigeria (NAICOM) and Malaysia insurance will collaborate in two important areas of capacity building and investment opportunities in takaful insurance.
Etiqa Insurance Singapore (Etiqa) has launched 'Invest future', Singapore's first Takaful offering in over a decade. Maybank Singapore (Maybank) will be the exclusive distributor of this takaful product.
Maybank's insurance arm, Etiqa Insurance Singapore (Etiqa), in collaboration with Maybank Singapore, unveiled Invest Future, Singapore's first takaful offering in over 10 years. Maybank Singapore is the exclusive distributor of this innovative Shariah-compliant investment-linked product (ILP).
The insurance sector in Algeria achieves a high turnover in the first 9 months of the preceding year, with international acceptances and takaful showing huge growth.
The takaful market promises big opportunities in Uzbekistan where 96% of the population are Muslims, according to Mr Abror Mukhitdinov, an actuary and UNDP expert at a recent roundtable.
Nigeria's insurance commissioner, Mr Olusegun Omosehin, has said that although takaful currently represents 1-2% of the insurance market, the future outlook is promising, considering the average annual growth rate of over 34% in contribution generated by the segment in the last four years.