Dubai-listed Watania International Holding (WIH), a leading investment holding company overseeing a portfolio of established takaful providers and innovative investments, has appointed Al Ramz Capital as liquidity provider.
Islamic and takaful insurers in the Gulf Cooperation Council (GCC) region continue to benefit from favourable growth prospects, said S&P Global Ratings (S&P).
Takaful International Company has announced shareholders' net profit of BHD555K ($1.47m) for the six months ended 30 June 2024, an increase of 30% from the corresponding period in 2023.
Participation insurance (akin to takaful), which grew by 93.7% in the first half of the year, increased its market share in Turkiye to 5.5% with a premium volume of TRY21.25bn ($633.6m), according to data compiled by the Insurance Association of Turkiye (TSB).
The Malaysian insurance and takaful sector has a stable outlook, which is supported by steady growth in insurance demand, with capitalisation robust and claims under control, says RAM Ratings.
The Licensing and Regulatory Framework for Digital Insurers and Takaful Operators (DITO) Policy Document was released by Bank Negara Malaysia (BNM), the country's regulator, in July 2024.
The operating performance of Egyptian Takaful Property & Liability Insurance Company (EGTAK is assessed as adequate, says AM Best.
Al Salam Bank, in collaboration with Solidarity Bahrain, has announced the launch of the first multi-year takaful insurance for cars in Bahrain.
Société Tunisienne de Réassurance (Tunis Re) has promising prospects and is expected to improve its financial performance, indicates BMCE Capital Securities.
Muzn Islamic Banking, the Islamic banking window of National Bank of Oman, has formed a partnership with Takaful Oman, to offer its customers a wide range of takaful products.