Gulf News
Dubai: The number of operators in the Islamic/Takaful market has grown from 138 to more than 165, an increase of 19.6 per cent according to the latest edition of the third World Islamic Insurance Directory published jointly by leading re takaful operator, Takaful Re and Middle East Insurance Review Incorporating Global Takaful.
"The figures collated from the market showed that the total contributions (premium) had soared from $5.9 billion (Dh21.65 billion) in 2006 to $7.2 billion in 2007 representing a sharp increase of 22 per cent with the growth rates for 2008 expected to be about the same despite the global financial crisis," said Chakib Abouzaid, CEO of Takaful Re.
The directory based on inputs from the Islamic/ Takaful and Retakaful operators around the world is intended to be as comprehensive as possible. The WIID has a listing of Islamic/Takaful operators in 23 countries including Sudan, Saudi Arabia and Iran.
The Gulf Cooperation Council (GCC) account for 35.5 per cent of premiums.
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