AIG Malaysia is set to venture into the retakaful business within the first quarter of this year, having recently obtained regulatory approval to establish a retakaful company, said new CEO Antony Lee.
Al Madina Takaful has issued takaful policies since 1 January 2014, with all existing policy agreements to be replaced by takaful policy agreements with effect from this date, said the company in a disclosure filing.
The Central Bank of Bahrain (CBB) has recently issued guidance on the issuance of securities and sukuk in the country, which will now form a major part of the CBB's Capital Market Rulebook.
Bank of London and The Middle East (BLME) expects sukuk issuance to pick up in the Gulf this year as companies refinance maturing debt in a strong economic climate, said its chief executive.
AMMB Holdings has agreed to sell its family takaful and life insurance businesses to Metlife in a deal worth MYR812 million (US$247 million).
" We’ve achieved this through multiple avenues: constantly challenging our process efficiency and effectiveness, offshoring, investment in IT and automation and introducing hubs so that we don’t necessarily have to process everything in every country."
- Ms Sinead Browne, COO of Allianz Global and Corporate Specialty (AGCS)
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