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Although bigger claims were asked, Amana Takaful lost less money in 2010. On the other hand, the company was hindered to generate more income because of the lack of compliant instruments.
In Sri Lanka the insurance industry in general is making endorsement losses and the bottom line is propped by investment income. Industry analysts gave a warning by saying that lower interest rates will hit the industry and general insurance premium may have rise.

It seems that Malaysia has a real succes in the takaful industry as it advanced from a sector with a single player with limited basic products to a viable sector that has been integrated into the mainstream financial system.
Zakariya Othman told RAM Rating Services Bhd that the main support of this success is the Government.

Takaful Emarat and Reliance Asset Management (Malaysia) (RAMMY), the Islamic asset management arm of Reliance Capital Asset Management, India (RCAM), became partners. Ian Lancaster, Chief Executive Officer, is the one that gave the statement.
Takaful Emarat will offer its customers three Shari’ah-compliant funds managed by RAMMY - WSF Reliance Global Shariah Growth Fund, Reliance India Shariah Growth Fund, and the proposed Shariah Equity Growth fund investing into China and India.

Ernst and Young state that the market for Takaful will extend to $12 billion this year.
The quest for security
It was hard for Takaful operators such as Takaful EM to acquire a Shariah-compliant re-insurance. Because it had a large potential, leading reinsurers such as Munich Re, Swiss Re or Hannover Re created Re-Takaful. It appears that Malaysian Takaful operators are world leaders.
Swiss Re, the second largest conventional re-reinsurer worldwide, thinks that the breakthrough of Takaful has only began.
Takaful expansion challenges
Ghassan Marrouche underlines the fact that the challenges for Takaful are in human resources. As demands raise, new distribution channels become inevitable.

1Malaysia Micro Protection Plan (1MMPP) has been created to intensify accessibility and affordability of insurance and takaful protection for Malaysians.
It appears that the plan was mainly for small businesses, micro enterprises and individuals seeking accessible and affordable financial protection in managing unexpected events such as death, illnesses, accidents, fires and loss of property.
Four options will be provided: life insurance, family takaful, general insurance and general takaful.

In a study made by Ernst & Young on Islamic insurance it is underlined that the move of Bermuda’s new emphasis on attracting this business is a smart one.
The conclusions of a Bermuda Finance Ministry feasibility study were that there are no major legislative or regulatory impediments to introducing Islamic financial product offerings in Bermuda.

Because of the amplification of Islamic banking and insurance, banking and insurance regulators expect a new legislation that allows ompanies to invest in Sharia-compliant securities.
Kenya's first Islamic insurance firm, Takaful Insurance, was initiated 3 weeks ago. The first branch was opened in Eastleigh, Nairobi. That is why an absolute change is needed.

Bermuda wants to set itself as global leader in the Takaful sector.
Cheryl Packwood, Business Bermuda CEO, stated that the island intends to leverage its position as a dominant regional financial and business hub to attract new.

The key challenges and opportunities addressed in the Islamic Wealth Management Report are:

•Managing the Islamic wealth cycle through the entire process of wealth acquisition, preservation and distribution and achieving the required balance between spiritual and worldly obligations.
•Understanding the primary issues facing Waqf donors despite the strong growth drivers in this market: poor performance is due in part to the shortage of professionals leading to low quality asset management and lack of transparency.
•Considering the suitability of the Swiss private banking family office structure as a wealth management tool to ensure effective Islamic governance.
•Addressing the challenges facing Islamic mutual funds to achieve growth and performance.
•Recommending standardisation, education and diversification of Sukuk in order to increase the supply of products and the liquidity of the market.
•Analysing Islamic equity and indices performance over the last year to illustrate that diversification remains key for investment without compromising Islamic principles.

The fastest growing segment of the insurance industry in Saudi Arabia is takaful. The reason that it grows so fast in Saudi Arabia is because premium paid by the insured people is considered as donation and not premium.
Also, health insurance sector is expacted to grow very fast as the private companies are involving and the foreign nationals and foreign pilgrims are compelled to buy insurance covers.

It is thought that islamic insurance contributions worldwide will rise by 31% this year. In 2010 the growth was 33%.
Ashar Nazim, executive director and Islamic Financial Services Leader at Ernst & Young, has the strong oppinion that key takaful markets are leading to a positive outlook for the sector as a whole because of its low insurance penetration rates and comparatively high rates of economic growth.

Gatehouse Bank plc will join Paul Napier Ltd in order to form Gatehouse Napier. This wil be the world's first Shariah compliant insurance broker which offers premium Takaful and Re-Takaful commercial risk solutions in London.
It appears that GCC investors have invested more than £3bn on UK commercial property in the post financial crisis.

The newly-launched Takaful mySME plan is expected to bring an income of RM10 million over the next 12 months. Group Managing Director Datuk Mohamed Hassan Kamil announced that the targets in the beginning are small-and-medium enterprise (SME) sectors of light manufacturing, food and beverages, retail, offices and services.
Takaful Malaysia also singned a Memorandum of Understanding with SME Corp Malaysia that has the purpose to jointly educate and create awareness among SME entrepreneurs on the importance of solid risk management processes.

Sharia'h compliant insurance products will now be available in the market with the entry of Takaful Insurance of Africa.
In a speech read on his behalf by Tourism Minister, ccc, Vice President Kalonzo Musyoka noted that Takaful encourages policyholders to cooperate among themselves for their common good, pay subscription to help the needy, spread liabilities and losses according to community pooling system besides eliminating uncertainties in respect to subscription compensation among others.

A first fully Shariah-compliant insurance cover initiative has been launched in Kenya. The Takaful Insurance of Africa Limited has introduced an insurance package grounded in Islamic Muamalat, the Islamic Banking Principles espoused in Islamic law and aims at serving all Kenyans across religious faiths. The Vice President called for a through study into principles that guide various insurance systems with a view to instilling best practices in the industry.

Faysal Bank Limited has signed a Bancatakaful agreement with Pak-Qatar Family Takaful Limited and FWU AG a global facilitator of Bancatakaful at Faysal House Karachi recently.
Bancatakaful agreement was signed by Aarij Ali, Head Retail Banking of Faysal Bank Limited and P. Ahmed, CEO Pak-Qatar Family Takaful Limited.

Takaful Ikhlas Sdn Bhd recently received an award for Corporate Social Responsibility category at the Takaful Awards Night organised for the second time by the Malaysian Takaful Association.
At the event, Takaful IKHLAS had also won four more awards namely: BancaTakaful: Top Person Producer Award, BancaTakaful: Top Person Producer Award - Investment-Link Regular, BancaTakaful: Top Person Producer Award - Investment - Link Single and Young Takaful Manager Award.

Tokio Marine is pulling out of its Takaful joint venture with Malaysian Islamic bank Hong Leong.
The Japanese insurer has gained regulatory approval to sell all of the shares it holds in Malaysia Takaful company, Hong Leong Tokio Marine Takaful Bhd, to Hong Leong Group.

The over-insured but tiny Malaysian Takaful market may be about to see yet another new entrant. It seems that Allianz Malaysia is about to enter the market by acquiring a stake in Takaful Ikhlas.
The Malaysian Takaful market is worth around $10bn and is attractive to new entrants more for its growth potential rather than its present value. The market is growing at between 15% and 20% a year.

Standard & Poor's Ratings Services placed its 'BBB' long-term counterparty credit and insurer financial strength ratings on Bahrain-based insurer Takaful International Co. BSC on CreditWatch with negative implications.
This rating action follows the recent downgrade of the long-term local currency sovereign rating on the Kingdom of Bahrain.