INDONESIA- TAKAFUL - Sharia insurance to be standardized this year

www.thejakartaglobe.com -The Association of Sharia Insurance of Indonesia (ASII) plans to standardize the sharia insurance sector by releasing sharia insurance policy standards by the beginning of second half of this year.

ASII chairman M. Shaifie Zein said that standardization was needed so that customers had certainty regarding sharia insurance policies.
The regulation will not standardize the pricing of insurance premiums.
“The important thing is to make sure that companies behave appropriately, not to slap them with fixed-price insurance premiums,” he told the press during an international conference on sharia insurance on Monday.
“That's why it's important for sharia insurance companies to have actuaries.” (source)

INDONESIA - TAKAFUL - Sales Takaful tightened

www.kontan.co.id - JAKARTA. In the near future, the sale of Islamic insurance products would be more orderly. Sharia Insurance Association of Indonesia (AASI) will be issued two guidelines to curb the marketing of insurance products. The policy includes guidelines for the certification agency and an insurance policy.
M. Shaifie, Chairman of AASI expressed, as long as many conventional insurance agents to market Takaful products. In fact, Islamic insurance products are very different from conventional insurance.
Without certification of AASI, there are potential concerns nasobah lack an adequate explanation for Islamic insurance products. "Marketing Takaful long as it's likely to be forced," said Shaifie, earlier this week.(source)

INDONESIA - TAKAFUL - Business actors Islamic insurance to grow

www.bisnis.com - BOGOR: The number of businesses that enliven the Islamic insurance industry grew after the official regulators grant permission to a general insurance company (loss) to conduct Islamic business units.

Head of the Insurance Bureau of Insurance Islamic Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-​​LK) Yatty Nurhayati said permission was out by 9 April 2012.

Thus, total organizer of reach of Takaful business enterprise comprising 44 companies and business units full Islamic sharia than conventional companies.  (source)

INDONESIA - TAKAFUL - After growing Sharia-Based Insurance Company

WWW.REPUBLIKA.CO.ID, JAKARTA - Takaful Company continues to grow. This year is expected to have a big company that will build the business of Takaful. Head of Islamic Insurance Bapepam-LK, Yatty Nurhayati, said this year there was a new Takaful that will participate in the euphoria of sharia in Indonesia.
Permit one company has been issued by the Ministry of Finance. Yatty unfortunately can not mention the name of the insurance company. "The company had just do not know," he said. The company will form a business unit.
In addition to the above company, Yatty also revealed there is already one other company that filed for permission to establish Islamic insurance business units, and another company with a full flash.  (source)

INDONESIA - TAKAFUL - Spin Off Push Takaful Company Competitive

WWW.REPUBLIKA.CO.ID, JAKARTA - The separation of business units sharia (spin off) at rated insurance company will be a stimulus for the growth of the Takaful industry. Encouragement separation shariah business unit will be included in insurance law.

Vice Chairman of the General Insurance Association of Indonesia Sharia (AASI), Yudha Primary, said the separation of business units in the Islamic insurance companies will encourage the increasingly competitive industry. When it became its own entity, the performance of insurance companies will be more motivated to be commensurate with other companies. (source)

INDONESIA - TAKAFUL - Increasingly in demand, Islamic insurance to grow 20%

bisnis.com - JAKARTA: Funds under management are managed by a Sharia-based insurance inudstri estimated to reach Rp 6 trillion by the end of this year, growing about 20% of the total funds under management of the Takaful industry in the last year of nearly Rp 4, 97 trillion.
Yudha Primary, Vice Chairman of General Insurance Association of Indonesia Sharia (AASI), said the increase in sales of insurance products based on the type of Islamic life insurance and general insurance (general) encourages the growth of managed funds.  (source)

INDONESIA - TAKAFUL - Starting 2012 all agents licensed - Indonesia Syariah Insurance Organization

REPUBLIKA.CO.ID, JAKARTA - Indonesia Sharia Insurance Association to make sure at the beginning of 2012, all agencies are required to have licensed Islamic. According to Chairman of AASI, Shaifie Zein, to improve the quality of Homeland Takaful agent, agent license is a necessity. (source)