Maybank's insurance arm, Etiqa Insurance Singapore (Etiqa), in collaboration with Maybank Singapore, unveiled Invest Future, Singapore's first takaful offering in over 10 years. Maybank Singapore is the exclusive distributor of this innovative Shariah-compliant investment-linked product (ILP).
Zurich Takaful Malaysia Berhad (ZTMB) has introduced MediAfya+, a new takaful medical plan aimed at offering more comprehensive healthcare coverage for Malaysians.
The new business premiums (NBPs) for the life insurance and family takaful industry is anticipated to chalk up a higher single-digit growth in the second half of 2022 and 2023 amid the challenging market conditions, said RAM Rating Services Bhd.
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.
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