Source: The Edge Daily, 2nd July 2008
AmIslamic Bank Bhd launched its first syariah-compliant investment-linked plan, the AmHigh Takaful Investment Linked Plan, targeting 11,000 participants and RM40 million in contributions within the first year.
The plan offers participants takaful protection and a choice of two investment strategies, AmHigh Islamic Cash Strategy or AmHigh Islamic Equity Strategies, depending on their risk appetite.
Takaful protection for the plan is provided by Syarikat Takaful Ikhlas Sdn Bhd, while its shared services system is provided Germany-based financial services group FWU AG.
Teruskan Membaca
Topik: Takaful semula, The Edge Daily on Jun 23rd, 2008 Comments Off
Source: The Edge Daily, 23rd June 2008
Munich Re Group, the first foreign company to operate a re-takaful business in Malaysia, finds that many takaful operators are not duly concerned about syariah compliance when it comes to re-insuring their risks.
In an interview with The Edge Financial Daily recently, its chief executive (Greater China and Southeast Asia) Ulrich Trumpp said the company would continue to help increase awareness of the availability of syariah-compliant re-takaful.
“There has to be a change management process and we cannot expect behaviour to change overnight,” he said, adding that Munich Re’s value proposition was to give takaful operators an option of offering fully syariah-compliant products.
“Otherwise, we also have the conventional re-insurance,” Trumpp said.
Teruskan Membaca
Topik: Takaful Malaysia, The Edge Daily on Jun 17th, 2008 Comments Off
Source: The Edge Daily, 17th June 2008
BIMB Holdings Berhad plans to take Syarikat Takaful Malaysia Berhad (Takaful Malaysia) private as part of its strategy to restructure its asset management and Islamic insurance businesses.
Sources said that only after the privatisation would private investors from the Middle East be invited to take a strategic stake in the insurer.
“The restructuring exercise will be undertaken at the subsidiary level first and may move on to the group level where the private investor will come in with new money,” a source said.
It is learnt that Takaful Malaysia would be privatised at between two and 2.5 times adjusted book value, which is on the high side of mergers and acquisitions involving insurance companies. “But then if the price is low, it would not attract enough acceptance,” the source said.
Teruskan Membaca