The takaful penetration rate in the country increased to 18.6% in 2021, up from 16.9% the year before, according to the Malaysian Takaful Association (MTA).
The Indonesian Shariah Insurance Association (AASI) says that it fully supports the establishment of a guarantor institution for policyholders in Indonesia.
What is the potential of the global takaful sector? What is the annual gross written contribution of the takaful market in 2020, and what is the projection in the next three years?
Being financially resilient is key to prepare for a more secure future. Zurich Takaful has introduced Takaful ProInvest, an investment-linked plan that is designed to optimise savings and investments, to help Malaysians plan for a better future and a comfortable retirement.
Great Eastern has announced a strategic investment of US$70 million in Axiata Digital's financial services (DFS) business, via a newly created holding company wholly owned by Axiata Digital, the digital services arm of Axiata Group Berhad.
The National Association of Malaysian Life Insurance and Family Takaful Advisors (NAMLIFA), has appealed for more measures to be introduced to lend a helping hand to policyholders and members in this Coronavirus (COVID-19) crisis.
Total general and family takaful contributions rose by 2% and 10% to IDR2.8tn ($202m) and IDR13.9tn in 2019, respectively (2018: 4% and 14%). For their conventional counterparts, the growth rates were 16% and 1%, respectively, notes Fitch Ratings.
Great Eastern Holdings has announced its financial results for the year ended 31 December 2019. Asia Advisers Network brings you the highlights, what Group CEO Khor Hock Seng said about the potential impact of the coronavirus to business and his views on what consumers look for when it comes to distribution.
Malaysia's takaful segment recorded double-digit penetration rate of 15.5% in the first half of this year compared to 9.3% a decade earlier in 2009, reported state-run news agency Bernama.
Axiata Digital Capital, a fintech service provider operating under the brand name Aspirasi, and Great Eastern, have signed a strategic partnership to provide affordable and customised insurance and takaful products across Malaysia and Indonesia for consumers, micro-entrepreneurs and SMEs. Fully digital, this will be offered on Aspirasi and its partner platforms.
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