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GLOBAL TAKAFUL GROUP

GLOBAL TAKAFUL GROUP. Mutual Insurance and Takaful in a Changing World. By Chakib Abouzaid. Istanbul, Nov 12-13. Retakaful. Who is the ceding party ? The participants” pool ? or The Takaful operator ? What level of pooling is appropriate ? Challenges for Retakaful operators.

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GLOBAL TAKAFUL GROUP

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  1. GLOBALTAKAFULGROUP Mutual Insurance and Takaful in a Changing World By Chakib Abouzaid Istanbul, Nov 12-13

  2. Retakaful • Who is the ceding party ? • The participants” pool ? or • The Takaful operator ? • What level of pooling is appropriate ? • Challenges for Retakaful operators Istanbul, Nov 12-13 Mutual Insurance and Takaful in a Changing World

  3. 2012 Takaful Market Development • 2010 • 2007 • 2011 • 20% Growth • 20% Growth • 18% Growth • 22% Growth • 23% Growth

  4. Takaful Market Development

  5. Takaful Contributions vs. Conventional premium in MENA (*) KSA and Sudan are fully cooperative

  6. Takaful Growth vs. Conventional in MENA

  7. Number of Islamic Insurance operators in 2010

  8. Common questions • What is Retakaful? There is a need to clarify the definition for the non professionals • How much is the volume of Retakaful? • How many operators Retakaful? • How much is their total capacity? • Are they active in all LOB? Technicalities of Retakaful • What are the main differences between Retakaful & conventional reinsurance? • Is the pricing the same for Retakaful vs. Conventional? Or are there any additional charges to be loaded to the net contribution? • Who is the ceding party? • The participants” pool? or • The Takaful operator? • What level of pooling is appropriate? Can the pooling by product? LOB? Or by ceding company? i.e. to consider the company as a pool of policyholders? Is this acceptable? Or is a way to take back the Retakaful to conventional? • Are the Retakaful companies profitable for their shareholders? If not why? • Are the Retakaful adding a real value to the industry and their ceding company? i.e. product design, technical support....

  9. Challenges and future of Retakaful • Current challenges for Retakaful operators: deficit, volume of ceded contributions... • What is the missing link today in Takaful? • Considering the volume of Retakaful and deficit issue, are the current Retakaful models sustainable? • What is the future of existing Retakaful? • Is there a need for more Retakaful capacity? And in which LOB?

  10. Thank you

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