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TAKAFUL MULTILINE PROGRAMME

TAKAFUL MULTILINE PROGRAMME. JEDDAH 21st & 22nd Septemper. INTRODUCTION & BACKGROUND TREATY SCOPE & CONDITIONS PARTICIPATING CEDING COMPANIES REINSURERS STATISTICS & PERFORMANCE TREATY TERMINATION CONCLUSIONS. INTRODUCTION & BACKGROUND.

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TAKAFUL MULTILINE PROGRAMME

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  1. TAKAFUL MULTILINE PROGRAMME JEDDAH 21st & 22nd Septemper

  2. INTRODUCTION & BACKGROUND • TREATY SCOPE & CONDITIONS • PARTICIPATING CEDING COMPANIES • REINSURERS • STATISTICS & PERFORMANCE • TREATY TERMINATION • CONCLUSIONS

  3. INTRODUCTION & BACKGROUND • TAKAFUL COOPERATION :CASE OF COOPERATION ON COMMON PROJECTS • DEMONSTRATION OF HIGH OPINION ON TAKAFUL BY REINSURERS

  4. INTRODUCTION & BACKGROUND • BEST RE NEEDED TO COVER TAKAFUL SUBSIDIARIES CESSIONS THAT EXCEDED OUR RETROCESSION PRGR CAPACITY. • TMP WAS BORN AND WAS MADE TO COVER NOT ONLY THE SUBSIDIARIES BUT ALL TAKAFUL COMPANIES THAT WISHED TO JOIN THE PROGRAMME • TMP BECAME EFFECTIVE JAN 1st, 2000

  5. TREATY SCOPE & CONDITIONS • REASSURED: BEST RE • TYPE: QUOTA SHARE • TO COVER ALL PROPORTIONAL PROGRAMMES OF TAKAFUL CIES ACCEPTED BY THE REASSURED AS FIRE, ENGINEERING & ACCIDENT TREATIES • TERRITORIES: AFRICA, MIDDLE-EAST, ASIAN COUNTRIES

  6. TREATY SCOPE & CONDITIONS • RETENTION : 40% of Any one Treaty or Program • LIMITS: FOR Any one Treaty or Program • SECTION A : FIRE & Allied USD 4,000,000 • SECTION B : ENGINEERING USD 2,000,000 • SECTION C : ACCIDENT USD 1,000,000 • SECTION D : MARINEUSD 1,000,000

  7. PARTICIPATING CEDING Cies • Islamic Arab Insurance Co (Saudi Arabia) • Takafol Islamic (Saudi Arabia) • Al Rajhi Islamic (Saudi Arabia) • Takaful International (Bahrain) • Qatar Islamic (Qatar) • Islamic Insurance Co (Jordan) • Savana Insurance (Sudan) • Watania Coop. (Sudan)

  8. PARTICIPATING CEDING Cies • Al Baraka Insurance (Sudan) • Sosar Al Aman ( Senegal ) • Al Baraka Oua Al Amane (Algeria) • Taamine D’Assurances Islamiques (Mauritania) • Takafol Nasional (Malaysia) • Syarikat Takaful (Malaysia) • Takaful IBB (Brunei) • Takaful Umum (Indonesia)

  9. REINSURERS U/Y 2000 • LABUAN RE :20% • CHIYODA UK :10% • MILLI RE :7.5% • ROYAL & SUN Alliance Re :7.5% • RELIANCE Int’l U/W Ltd :5.5% • CORIFRANCE :5.0% • ARAB RE :3.0% • ASEAN RETAKAFUL :2.0%

  10. REINSURERS U/Y 2001 • IDENTICAL PLACEMENT TO U/Y 2000 EXCEPT :+ 5% TO ASIAN RE • Q/S RETENTION : 35%

  11. STATISTICS U/Y 2000

  12. STATISTICS U/Y 2001

  13. STATISTICS

  14. REASONS FOR TPM TERMINATION • FIRST YEAR WENT WITHOUT ANY PROBLEM • FOR THE SECOND YEAR : • PROBLEMS IN RECEIVING DOCUMENTS & INFORMATIONS FOR ACCOUNTS MAKING • TREATY CLAUSES WERE NO MORE RESPECTED • SITUATION BECAME DETRIMENTAL TO THE TREATY & TO TAKAFUL IN GENERAL

  15. THANK YOU

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