Hong Kong-based insurer FWD Group has agreed to buy HSBC Holdings Plc’s stake in a Malaysian insurance joint venture as part of a plan to expand its presence in Asia, three people familiar with the matter said. FWD, owned by …
AIG UK said on Thursday it had underwritten its first sharia-compliant warranty and indemnity policy out of London’s M&A insurance market, as the city looks to Islamic finance to help bring new business. Development of Islamic finance is accelerating in …
Zurich Insurance Co. Ltd., a subsidiary of Zurich Insurance Group, has completed the acquisition of MAA Takaful Berhad (MAAT), a leading provider of Takaful products in Malaysia, from MAA Group Berhad and Solidarity Group Holding BSC. The combination of MAAT’s …
Malaysia’s Islamic insurers are seeking to double policyholders in five years by investing more in digital technologies to attract a younger audience, according to the industry association’s head. Takaful operators should also step up educational campaigns to boost customers to …
Merger and acquisition (M&A) activity and stakebuilding is gaining momentum in the Middle East as financially strong and profitable insurers seek to deploy surplus capital to broaden their profiles and satisfy shareholders’ expectations, according to a briefing issued by A.M. …
The significant premium growth in the global takaful sector is expected to continue and reach USD$20 billion by 2017, with the majority of that increase originating from Malaysia and Saudi Arabia, according to a new A.M. Best special report. The …
A new report from A.M. Best Co. concludes that “Indonesia’s solid economy is fueling growth for a developing non-life insurance market, well supported by domestic consumption and investment offsetting a weaker international environment.” Best said there had been “stable growth …
A new special report from A.M. Best – Takaful Poised for Growth, But Greater Focus is Required – notes that “Takaful operators in the Gulf Cooperation Council (GCC) and Malaysia are growing at a rapid pace and are highly capitalized. …
