Syarikat Takaful Malaysia Bhd.

Indonesia Islamic Insurance Assets Reach $1 Billion in 2011

The data from Capital Market and Financial Supervisory Agency shows that Indonesia’s Shariah-compliant insurance assets increased by 32 percent to 9.2 trillion rupiah ($1 billion) in 2011 comparing to the year before.
The agency stated that takaful has grown by 50 percent on average in the last five year.
Moreover, it seems that Mayban Ageas and Syarikat Takaful Malaysia Bhd. plan to develop in Indonesia to take advantage of the growth rate.

Islamic banking and takaful boost BIMB earnings

BIMB Holdings Bhd had RM62.84mil in net profit on revenue of RM502.26mil mainly because of higher operating results registered by the Islamic financial services group’s subsidiaries – Bank Islam Malaysia Bhd and Syarikat Takaful Malaysia Bhd.
Johan Abdullah, BIMB’s group managing director and chief executive officer, stated that growth in net income was encouraged by higher profit from the continued growth in financing, higher non-fund based income and improved asset quality in Bank Islam, as well as higher profit generated from takaful businesses.

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