The number of operators in the Takaful market has grown from 138 to more than 165, an increase of 19.6% showed the latest edition of the 3rd World Islamic Insurance Directory published jointly by leading retakaful operator, Takaful Re and Middle East Insurance Review Incorporating Global Takaful.
The figures collated from the market showed that the Takaful contributions had soared from US$5.9 billion in 2006 to US$7.2 billion in 2007 representing a sharp increase of 22% with the growth rates for 2008 expected to be about the same despite the global financial crisis, said Mr. Chakib Abouzaid, CEO of Takaful Re.
In releasing the much awaited update to the WIID, he said:" We are confident that the Directory will serve as a useful source of information and contacts in daily operations and will enjoy a prominent position on the desk of each and every professional involved in the blooming global Takaful market."
The Directory based on inputs collected from the Takaful and Retakaful operators around the world is intended to be as comprehensive as possible. The WIID has a listing of Takaful operators in 23 countries including Sudan, Saudi Arabia and Iran and doesn't as yet include the newcomers in United Kingdom and Canada as they haven't completed their first year of operations.
Figures collated show that in terms of premiums, the Gulf Co-operation Council (GCC) accounts for 35.5%, the Far East for 12.1%, and Africa 3.4$ of the global Takaful contributions received. Iran alone accounts for 48.6% of the market. In term of number of players, the GCC has 72 Takaful operators, Iran 18, Far East 35 and Africa 26.
Copies of the 3rd Edition which will be officially launched at the 4th World Takaful Conference are available online at www.meinsurancereview.com
-Edns-
For further information, please contact
Amal Dardour - Asst. Director,
Corporate Communications & Business Planning
Tel: +973 17 544 357,
Fax: +973 17 531155,
Email: takaful-re@takaful-re.ae
Link:
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