Takaful

Takaful operators bracing for slower growth as new regulations come into effect in July

It has been an interesting month for the Islamic insurance sector: while one player is mulling offloading its Takaful business, others are keen to build their Takaful proposition on the back of more favorable growth prospects over the conventional...


Takaful

Digital re-Takaful signal change in insurance landscape triggered by fintech boom

Digital insurer Tune Protect Group (TPG) is eyeing the Shariah compliant reinsurance market, an underserved segment with promising potential and simultaneously, its own unique set of challenges. The re-Takaful market is not an easy market. In...


Takaful

TAKAFUL

BIMB Holdings mulls stake sale in STM
BIMB Holdings has been approached by several foreign insurers which have expressed interest in the acquisition of Syarikat Takaful Malaysia (STM), The Star reported quoting unnamed sources.

BIMB...


Takaful

TAKAFUL

Allianz-HSBC Amanah Takaful merger off Allianz Malaysia has ended its negotiations with HSBC Insurance (Asia Pacific) Holdings, JAB Capital and the Employees Provident Fund Board to buy a 100% stake in HSBC Amanah Takaful. No reasons were given...


Takaful

The curious case of the Malaysian Competition Act: What can the Takaful industry learn?

The Malaysian Competition Commission (MyCC) this year took action against the General Insurance Association of Malaysia (PIAM) along with 22 of its members for allegedly being involved in an anti-competitive agreement. The issue made headlines in...


Takaful

TAKAFUL

Takaful Malaysia branch manager guilty of fraud The business manager of the Kuantan branch of Takaful Malaysia, Aidy Syukri Yahya, has been found guilty of two insurance claim frauds amounting to RM805,000 (US$181,680), committed against Syarikat...


Takaful

Takaful operators hunt for new business in new markets

Competition in the Islamic insurance space is heating up as Takaful operators roll out one product after another in order to both widen their existing market base and capture new business. Expanding beyond the coverage for the general population...


Takaful

Takaful

Zurich Takaful launches product
Zurich Takaful Malaysia has launched a Family Takaful plan targeted at senior citizens known as Takaful SeniorGold, the scheme offers coverage to those in the 50-80 years age group. ACR Capital completes...


Takaful

Takaful industry beefs up data security

The Takaful and insurance fraternity is making a concerted effort to boost consumer confidence through a consolidated universal code of practice for the entire Malaysian insurance industry to harmonize practice among operators when it comes to...


Takaful

Why Takaful makes sense

When it was time for Emily Tan, a young professional in her 20s, to get an insurance policy, the choice was easy for her: She was leaning toward Takaful. Not because she was Muslim (she isn’t) but because she was captivated by the moral...