Islamic insurance: tackling global hurdles
Ernst and Young state that the market for Takaful will extend to $12 billion this year.
The quest for security
It was hard for Takaful operators such as Takaful EM to acquire a Shariah-compliant re-insurance. Because it had a large potential, leading reinsurers such as Munich Re, Swiss Re or Hannover Re created Re-Takaful. It appears that Malaysian Takaful operators are world leaders.
Swiss Re, the second largest conventional re-reinsurer worldwide, thinks that the breakthrough of Takaful has only began.
Takaful expansion challenges
Ghassan Marrouche underlines the fact that the challenges for Takaful are in human resources. As demands raise, new distribution channels become inevitable.