Industry Segments: Takaful Page 1 / 5
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- November 28 2024
Malaysian Re’s focus on volatility of non-voluntary cession, overseas businesses key to underwriting performance stability: Fitch
The rating agency affirmed Malaysian Re’s insurer financial strength rating at 'A' (strong) with a stable outlook, reflecting its 'moderate' company profile and 'very strong' capitalisation.
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- October 22 2024
FWD Group reshuffles Malaysia leadership, promotes Aman Chowla to CEO of takaful
Mak See Sen will replace Chowla's previous role as CEO of FWD Insurance, effective November 18.
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- June 14 2024
Malaysian Re and Pacific Life Re extend MoU on family retakaful market
Both companies aim to unlock new possibilities through the renewal of MoU on shariah-compliant life insurance solutions.
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- June 4 2024
Zurich Malaysia promotes Nur Fatihah Mustafa to family takaful CEO
Kuala Lumpur-based Mustafa, who was most recently Zurich's head of family takaful strategy planning, becomes the first female CEO to lead a takaful operator in Malaysia.
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- May 9 2024
Malaysian Re FY 2024 GWP tops US$500m; parent achieves record net profit
The Asean reinsurer reported a combined ratio of 95.5% and its post-tax profit grew 146% in the latest financial year.
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- March 21 2024
Malaysia’s general insurance, takaful funds 2023H2 operating profits up 46%
Higher premium growth in the motor segment and continued improvements in risk-based pricing have bolstered the sector's H2 operating profit. But for full year of 2023, operating profits rose by just 3.2% year-on-year.
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- February 22 2024
New capital norms to drive consolidation in Indonesia’s takaful and retakaful sector: Fitch
Almost half the companies will have to raise capital to meet the requirement by end-2026 based on their latest equity levels, and almost two-thirds of them by end-2028, as capital generated through growth is unlikely to be sufficient, the rating agency said.
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- November 21 2023
Malaysian Re reports US$23.8m net profit in H1 FY 2024
The Asean reinsurer returned to profit in the first six months of the financial year on the back of higher insurance service results and investment gains.
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- March 17 2023
Zurich, Etiqa among insurers bidding for Selangor takaful scheme
Four insurers, including Takaful Ikhlas and Takaful Malaysia, have applied to manage the accident insurance scheme that will cover six million residents.
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- February 20 2023
General takaful outpaces conventional market in Malaysia: report
Islamic insurance grew 10.3% between 2017 and 2021 while the broader P&C market grew only 0.6% in the same period.
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- February 1 2023
Indonesia’s general takaful sector grows 57%: Fitch
Despite the spurt in sales, general sharia booked a US$2.5m loss from increased claims.
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- December 1 2022
FWD launches Malaysia insurtech fund
The US$10m fund will invest in emerging start-ups in the insurtech and Islamic fintech space.
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- April 13 2022
Zurich’s Malaysia takaful arm promotes head of sales to CEO
Malaysia's takaful market has been growing at a breakneck speed over the past decade.
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- February 23 2022
Takaful resilience on display in 2021
Islamic insurance products in Indonesia and Malaysia grew much faster than conventional insurance.
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- February 15 2022
Takaful non-life premiums surge 22.7% in Indonesia: Fitch
Rating agency says outlook is positive despite some regulatory headwinds.
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- January 6 2022
Malaysia’s regulator issues digital licensing discussion paper
Central bank initiative has a proposed minimum capital requirement of US$9.5m and includes the takaful market.
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- December 6 2021
Malaysia’s takaful players on ‘value-based’ journey: regulator
Regulator notes how policyholders were offered deferments during the pandemic.
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- November 30 2021
Malaysia takaful premiums show strong H1 growth: MTA
Despite Covid-19 challenges, the family takaful market — which includes life — saw 46.7% annual premium growth to US$1.1bn.
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- November 1 2021
Zurich Takaful Malaysia appoints new life CEO
Nazrul Hisham Abd Hamid replaces Mukesh Dhawan as the leader of firm's family takaful operations in the country.
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- July 26 2021
Generali’s Leonardi on Malaysia M&A and the evolution of distribution
The Hong Kong-based Asia head says there is a greater demand for digitalisation and innovation.
