TAKAFUL - Indonesia Islamic Insurance Assets Increased 47.6% in 2010

Indonesia’s Islamic insurance assets surged 47.6 percent to 4.5 trillion rupiah ($512 million) last year from a year earlier, Indonesia’s Capital Market and Financial Institution Supervisory Agency said.

Islamic insurance, or takaful, is based on the Koranic principle of mutual assistance where policy holders contribute a sum of money to a common pool managed by the company. (full story)



Premiums for the takaful sector rose 35.7 percent to 3.2 trillion rupiah in 2010 from a year earlier, Isa Rachmatarwata, head of the insurance bureau at the agency, said in a written response to questions.

Islamic insurance made up 2 percent of the total 224.9 trillion of insurance assets in the country, Rachmatarwata said.

To contact the reporter on this story: Suryani Omar in Jakarta at somar6@bloomberg.net;
To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

Source : http://www.bloomberg.com/news/2011-03-15/indonesia-islamic-insurance-assets-increased-47-6-in-2010.html - March 15, 2011