XL Group to Offer Shariah Complaint Insurance Coverage

May 8, 2013

  • May 8, 2013 at 2:24 pm
    Don Noel, ARM says:
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    So how does XL do this? My understanding of Shariah compliant insurance is that the entity is run as a nonprofit, with no bias toward anyone and with excess earnings or losses affecting the following year’s premiums. Much like a mutual insurance company, Shariah compliant insurance entities are not to make a profit that is returned to investors.

    As XL is a stock company, I’m not sure how they pull this off. Hopefully someone can enlighten me here.

  • May 9, 2013 at 11:00 am
    frank says:
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    i figure they have a beheading and severing limb exclusion. i for one will do no business with XL.



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