Zurich Takaful Malaysia Berhad (ZTMB) has introduced MediAfya+, a new takaful medical plan aimed at offering more comprehensive healthcare coverage for Malaysians.
The net profits of insurance companies operating in Bahrain fell by 43.5% to BHD15.78m ($41.87m) in the first half of 2024, compared to BHD27.91m in the corresponding period of 2023, according to the "Insurance Market Review June 2024", released by the Central Bank of Bahrain earlier this month.
2025 will be a significant year for Malaysia as it takes on the ASEAN chairmanship, which represents a significant opportunity for Malaysia to actively advance regional collaboration across Southeast Asia in critical sectors, including takaful and retakaful, according to the deputy governor of Bank Negara Malaysia, Mr Adnan Zaylani.
The Malaysian Takaful Association (MTA) has officially launched the Hijrah27 framework, a strategic transformation plan with the core objectives of broadening public understanding of Islamic insurance and expanding its reach to underserved segments of the country. The goal is also for takaful to be the preferred Shariah-compliant protection choice in the country while seeking to enhance professionalism among takaful personnel and promote ESG.
The insurance industry's profitability (after-zakat & tax) in the Kingdom of Saudi Arabia (KSA) stood at SAR3.0bn ($800m) in the first nine months of 2024, growing by 15% from SAR2.6bn in the corresponding period in 2023, according to a report by Badri Management Consultancy which provides consulting services in the actuarial, strategic and technology fields.
The Financial Services Authority (OJK) has disclosed that two insurance companies have completed the spin-off of their takaful windows or Shariah Business Unit (UUS) as of 31 October 2024, more than two years ahead of the deadline to do so.
Pru Life UK has made history as it received the first takaful licence in the Philippines.
Global ESG sukuk issuance is expected to continue rising over 4Q24-2025, driven by investor demand, funding and diversification goals, and government sustainability initiatives in some Muslim-majority countries, Fitch Ratings says.
Takaful International Company enjoys the strategic support of its parent company, GIG-Bahrain, and Gulf Insurance Group, as well as synergies with them and the group's disciplined approach to corporate governance.
The Pakistani takaful sector chalked up contributions of PKR48bn ($173m) in the family takaful segment in 2023, 17% higher compared to 2022, according to the Securities and Exchange Commission of Pakistan (SECP).