Takaful International posts strong Q2

Takaful International has reported a 19 per cent increase in total written insurance contributions for Q2 this year.

Standard furthers ties with Allianz

The deal comes after Allianze agreed to sell Standard’s SME business insurance products in Bahrain. The five-year deal will see Standard Chartered Bank promoting and selling Allianz Takaful life insurance products through their Bancassurance distributions channels.

New takaful law will drive innovation, says lawyer

A new law regulating the takaful insurance industry could drive innovation and enhance shair’a scholars’ understanding of the insurance market, Clyde & Co has claimed.
Last month, the UAE Insurance Authority issued a new law setting out a series of legislative measures for the takaful insurance industry.
Under the new law, takaful insurers must now have a [...]

UAE issues takaful insurance law

The UAE Ministry of Economy has issued a new law regulating the Islamic insurance industry.

ADIB launches takaful cash cover service

The bank will provide coverage for up to AED100,000 that a customer may lose due to an incident after withdrawing money within 100 meters of any of the ATMs or branch in the UAE.

Doha Bank Assurance Company applies for takaful licence

The Qatari insurer has filed its application with the Qatar Financial Centre to allow it to provide life insurance alongside existing product lines, such as health insurance.

Dubai Islamic Insurance signs deal with Alico

Under the agreement, Aman will provide Alico’s shair’a-compliant insurance products to its UAE customer base.

According to the terms of the agreement, Aman will issue Alico’s takaful products, as per the opinion of Aman’s Fatwa and its shari’a board.

Al Muthanna Takaful Insurance Teams Up With Kuwait Finance House & GAPCORP

As part of the tie-up, customers of KFH will be offered an opportunity to have the extended warranty service at a fee on their vehicles. The warranty will be identical to the manufacturers’ warranty and will cover the vehicles after the expiry of the original manufacturers’ warranty.

Salama Eyes Further UAE Growth

Salama Islamic Arab Insurance has opened two new branches in the UAE as part of a “major” Middle East expansion drive, the company revealed on Tuesday. The Islamic insurance provider said demand for Takaful products had prompted an increase in branches across the emirates from four to six. Dr Saleh Malaikah, vice chairman and CEO of Salama, confirmed that a further two would be added before year-end.

Lloyd’s Puts Mideast Plans On Hold

Financial instability across Middle Eastern markets has forced Lloyd’s to delay plans of creating an insurance base in the region. Jose Ribeiro, Lloyd’s director of international markets, said the company was monitoring the region after concerns about the Middle East’s economies and markets were raised. He added it was unlikely a platform similar to Lloyd’s Asian trading centre in Singapore would appear in the Middle East anytime soon.

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