INDONESIA - TAKAFUL - A.M. Best Special Report: Economy Boosts Indonesia's Insurers; Capital, Regulatory Challenges Loom

www.marketwatch.com - HONG KONG, Jun 28, 2012 (BUSINESS WIRE) -- Indonesia's solid economy is fueling growth for a developing non-life insurance market, well supported by domestic consumption and investment offsetting a weaker international environment, according to a new report from A.M. Best Co.

Stable growth of 5% to 6% in gross domestic product over the past five years; a young and large population; rising spending on personal property; and expanding government outlays have primed the non-life insurance sector for further growth. The industry has generally exhibited stable operating performance, and gross premium for nonlife insurance increased 19.5% to IDR 34.4 trillion (USD 3.8 billion) in 2011, according to the General Insurance Association of Indonesia. (report)  - (source)

WORLD - RATINGS - AM BEST Takaful Rating Methodology

www.ambest.com - Takaful (Shari'a Compliant) Insurance Companies - This report highlights the main issues arising when applying A.M. Best's rating methodology to takaful insurance companies. Takaful is clearly on the rise, particularly in the Middle East and Malaysia, but A.M. Best's main principles remain unchanged, regardless of the type of company analyzed. (download - source)

INDONESIA - TAKAFUL - Allianz Seeks to Expand Takaful Effort From Its Indonesia Base

insurancenewsnet.com By Iris Lai -
A.M. Best Company, Inc.

Allianz SE is looking to further expand its takaful, or Islam-compliant insurance, in the Asia-Pacific region, using its experience in Indonesia where it sees substantial market demand for comprehensive and affordable plans.

"Takaful is a business in which we are keen to grow and expand," said Kamesh Goyal, regional chief executive of Allianz Insurance Management in the Asia-Pacific. Allianz offers takaful products in Indonesia through its life and nonlife insurance companies.  (source)