The Malaysian Takaful Association (MTA) has launched the Maqasid Shariah Scorecard (MSS), a transformative initiative aimed at assessing the industry's impact and sustainability.
The recent floods in the GCC region were an eye-opener for all stakeholders to act to deal with weather-related perils and their impact on the societies and economies of the region, said speakers at the 19th Gulf Insurance Forum in Dubai earlier this week.
Takaful generated contributions totalling MAD43.5m ($4.4m) in the first half of 2024, 50% higher than the MAD29m reported for the corresponding six months in 2023, according to data released by the Moroccan Insurance Federation.
GIG-Egypt has a record of generating strong earnings despite the challenging operating conditions and high inflationary environment of Egypt, said AM Best.
Reconciling accounts receivable/payable and addressing associated credit risk implications have posed challenges for some insurance companies in Qatar, according to an analysis by Badri Management Consultancy, an international company offering actuarial services, financial services, Strategic HR consulting, data management and business intelligence.
Global sukuk issuances are rising following the US Fed's rate cut to 5% in September 2024, with financing conditions improving, Fitch Ratings says.
Takaful insurance is experiencing fast growth in Algeria, backed by an enabling legislative and regulatory framework. As the sector grows, it is likely that new players will enter the market, driving competition and innovation.
The combined insurance revenue of listed companies and foreign branches saw a 19% surge to AED42.4bn in 2023, compared to AED35.5bn in 2022, under IFRS 17, according to an analysis by Badri Management Consultancy, an international company offering actuarial services, financial services, Strategic HR consulting, data management and business intelligence.
Gulf Insurance Group (GIG) is expected to see its gross written premium remain broadly flat for 2024 but fall in 2025 following the revocation by the Health Ministry of a health insurance contract for retired citizens which had been awarded to the Group, according to AM Best.
The UNDP is working with partners to create the largest partnership of its kind, the Global Takaful Alliance, according to a staement posted on the website of the UNDP Insurance & Risk Finance Facility.