Kenyan ICMIF member, Takaful Insurance of Africa Ltd (TIA), plans to expand its operations into five East African nations, Chief Executive Officer Hassan Bashir said recently. TIA is Kenya’s only Shariah-compliant insurer. Under TIA’s five-year plan it will expand into… [READ MORE]
ICMIF Supporting Member (ratings) A.M. Best will participate in and exhibit at the 8th Annual World Takaful Conference, to be held 15-16 April in Dubai, UAE. Vasilis Katsipis, General Manager – Market Development at A.M. Best, will be the Session… [READ MORE]
The latest figures from the Global Mutual Market Share 2011 report, ICMIF’s annual research report into the size of the global mutual and cooperative insurance sector, show that mutual and cooperative insurers in developing nations* have gained market share since… [READ MORE]
ICMIF’s Malaysian member Takaful IKHLAS has announced that Encik Ab Latiff bin Haji Abu Bakar is the new CEO for the organisation as of 7 January 2013. Encik Ab Latiff, 52, comes to Takaful IKHLAS with more than 20 years… [READ MORE]
The Malaysian ICMIF member, Prudential BSN Takaful Bhd (PruBSN), was named Best Takaful Operator (Asia) at the 2012 Islamic Business and Finance Awards in Dubai, the United Arab Emirates, which took place in December 2012. PruBSN’s Chief Executive Officer, Azim… [READ MORE]
ICMIF is delighted to announce the appointment of Mr. Salah El Din Musa Mohamed, Managing Director of Shiekan Insurance and Reinsurance Co. Ltd, Sudan, as the new Chair of the ICMIF Takaful Network; this role also involves becoming a member… [READ MORE]
After spending almost three weeks on the road, a number of things were circling around my mind on the flight home from Istanbul.
There was of course relief that despite some minor set backs we were able to deliver our vital messages coherently and I hope, in an engaging, memorable way.
A valuable new World Bank publication stresses the links between mutual and cooperative insurance and takaful, the fast-growing Shariah compliant alternative to insurance. The book, Takaful and Mutual Insurance: Alternative Approaches to Managing Risk, was launched at a well-attended conference… [READ MORE]
As part of ICMIF’s recent strategy to profile key issues affecting its members in the trade media, ICMIF’s CFO and Senior Vice-President, Development Sabbir Patel was recently featured in the global insurance title, Insurance Day. In a wide-ranging article, published… [READ MORE]
ICMIF member Solidarity General Takaful, Bahrain, has announced the appointment of Youssef Al Kareh as the new CEO of the organisation. Solidarity General Takaful is a subsidiary of Solidarity Group Holding, one of the largest Takaful companies in the world.… [READ MORE]
“Orange revolution”
ICMIF member Amana Takaful, Sri Lanka, recently hosted a global takaful conference and welcomed leaders from takaful insurance providers for a two day event in Colombo. The meeting is held annually and brings together takaful and re-takaful providers from many… [READ MORE]
Prudential BSN Takaful (PruBSN) has been awarded the Rising Star Takaful Institution 2011 award from the ‘The Asset,’ a Hong Kong based publishing and research group. The award was received by Mr Azim Mithani, Chief Executive Officer of PruBSN, at… [READ MORE]
The International Takaful Summit 2011 took place in July in London, UK, with the theme of “Bridging the Gap Between the Takaful and Insurance Industries”. A number of ICMIF members won awards in the Takaful Leadership Awards ceremony which took… [READ MORE]
In July of this year Syed Moheeb, the President and Chief Executive Officer of Takaful Ikhlas, one of ICMIF’s Malaysian members, was awarded Global Leadership Award 2011 from The Leaders Magazine (TLM) supported by The American Leadership Association (ALDA). An… [READ MORE]
ICMIF Supporting Member, A.M. Best has published a new report which identifies the two countries of Jordan and Lebanon as the main emerging markets of the Levant region. It examines the drivers for insurance growth, challenges facing companies in the… [READ MORE]
ICMIF is pleased to announce that four new members have joined the organization. The first of these is the Länsförsäkringar Alliance based in Sweden. They are the largest non-life insurer in the country with a market share of 28.8%. The… [READ MORE]
ICMIF Supporting Member, A.M. Best has published a new report examining the performance of takaful operators in the Gulf Cooperation Council (GCC) and Malaysia compared to that of conventional insurers. The report is based on analysis of 131 takaful operators… [READ MORE]
In January this year CIC Kenya helped to launch the first Takaful insurance company in East Africa. CIC Insurance Group will be the lead shareholder in the new Takaful Insurance of Africa after taking ownership of 32% of the new… [READ MORE]
“2010 ICMIF Board meetings”
ICMIF member BEST RE has moved its headquarters from Tunis in Tunisia to Labuan in Malaysia. After the appointment of new General Manager Sami Guellouz late last year, the decision was made by the ReTakaful organisation to relocate their operating… [READ MORE]
As well as working on a number of projects to establish cooperative-based Takaful schemes, ICMIF is regularly disseminating information to Takaful and non-Takaful members through a dedicated web site (www.takaful.coop), Takaful newsletter, Takaful series of articles and a Takaful xchange… [READ MORE]
“The theme for this year’s meeting will be Back to Basics: Mutuality in Takaful. As was envisioned by the Fiqh Academy of the OIC in 1985, principles of mutuality should permeate every aspect of Takaful and be practiced within takaful… [READ MORE]
How can people develop so that they respond to uncertainty with an instinctive sense of the right decision to take? The answer doesn’t lie in a single textbook and there are substantial risks to practising decision making on the job.… [READ MORE]
Insurance provision for the Islamic faith is one of the fastest growth areas in insurance. Termed takaful insurance, ICMIF has been at the forefront of its development. The pure takaful insurance model has very similar values to the cooperative and… [READ MORE]
“British mutuals launch their manifesto”
