Indonesian takaful companies are expected to focus on balancing earnings and meeting higher capital requirements, which would come into effect in 2026 and be tightened further by 2028, says Fitch Ratings.
Key priorities identified in the development of Islamic finance include the development of deep and liquid local currency sukuk markets, broadening the investor base, and addressing legal, regulatory, and market infrastructure gaps to support the growth of Islamic insurance and fund sectors, was the consensus reached at the 23rd Islamic Financial Services Board (IFSB) Stability Forum.
Wethaq Takaful Insurance has announced the appointment of Dr Reda Ahmed as its new CEO, effective July 2025.
The Algerian insurance market has posted total premium volume of DZD56.9bn ($439m) in 1Q2025, 13.3% higher than in the corresponding quarter in 2024, including international acceptances and retakaful, the National Insurance Council (CNA) indicated in its latest economic report.
Sun Life Malaysia, made up of Sun Life Malaysia Assurance and Sun Life Malaysia Takaful, has announced the appointment of that Mr Ho Teck Seng as president and country head of Sun Life Malaysia and CEO of Sun Life Malaysia Assurance.
Algeria's insurance market registered a 14% increase in the first quarter of the year compared to 1Q2024, dominated by the general insurance business.
Uganda is ready to adopt the Islamic insurance model, according to Dr Twaha Ahmed Kasule, a senior lecturer at the Islamic University In Uganda (IUIU).
AmMetLife Takaful announced that Mr Nazrulhisham Abdul Hamid has been appointed CEO.
Pru Life UK has launched PRUTerm Lindungi, its first life protection plan in the Philippines that is compliant with Islamic laws.
Driven by increased demand for motor insurance and higher takaful contributions, Brunei Darussalam's insurance sector has reported slight optimism for April 2025, according to the Business Sentiment Index (BSI), published by the regulator, Brunei Darussalam Central Bank.