INDONESIA - TAKAFUL - Syarikat Takaful may go for M&As to secure bigger market share

www.thestar.com.my -PETALING JAYA: Syarikat Takaful Malaysia Bhd will focus on its core markets in Malaysia and Indonesia but does not rule out the possibility of mergers and acquisitions (M&As) in a bid to have a stronger foothold and a bigger market share in the takaful business.
Goup managing director Datuk Mohamed Hassan Kamil (pic) told StarBiz the company was now concentrating its efforts in growing the Malaysian and Indonesian market organically.
“Any M&A activities will be deliberated at our holding company level. Our main focus is to grow the business in Malaysia and Indonesia while continuously working hard to gain the top position and increase our market share.” (source)

INDONESIA - TAKAFUL - Family Takaful Optimistic Premiums Reach $ 1 Trillion

WWW.REPUBLIKA.CO.ID, JAKARTA --- Islamic insurance company, Takaful Family optimitis premium could reach $ 1 trillion at the end of 2012. With these targets, Takaful Family Takaful want to be models in the country.

According to Director of Family Takaful, Trihadi Deritanto, acknowledged that the target was set last year had raised doubts. However, he argues, should be the target of introspection to improve performance.

"If you want to be a role model of Islamic insurance in Indonesia, should dare to dream and do, to Rp 1 trillion (premium) can be realized," he said Takaful Award in a ceremony on Tuesday (8/5). (source)

INDONESIA - TAKAFUL - BIMB to potentially gain from Indonesian takaful market

www.theborneopost.com - KUCHING: BIMB Holdings Bhd (BIMB) could potentially see significant takaful contributions in the Indonesian takaful market its stake hold in PT Takaful Indonesia (PT Takaful).
However, pending the outcome of potential regulations by Indonesia’s central bank, the current contributions from the country’s takaful segment would not be significant for the time being.
Maybank Investment Bank Bhd (Maybank IB) director of Equity Markets (Research) Desmond Ch’ng told The Borneo Post that while there might be uncertainty surrounding BIMB’s 65 per cent owned Syarikat Takaful Malaysia Bhd’s (STMB) shareholding in PT Takaful, he did not expect this to immediately affect Maybank IB’s earnings forecasts or valuations for BIMB. (full story)

INDONESIA - BANKING - Islamic Banking: Professional or Islamic?

www.republika.co.id - The biggest fear when someone entered the institute sharia is Islam and he must have a certain fit Islamic values. Smelling things that Islam became one of the factors that make a person frustrated trying to challenge the Islamic financial industry.
The lack of knowledge of the sharia are also factors that make a person fail to be an employee of sharia industry. This lack of knowledge was a hardship for the company in developing the potential of employees in the Islamic industry.  (source)

INDONESIA - TAKAFUL - Asuransi CAR enlarges sharia business line

www.bisnis.com - JAKARTA: Life insurer PT Asuransi Jiwa Central Asia Raya will enlarge its sharia business line by strengthening its distribution network through bancassurance and retail.

The company expects a premium revenue of IDR35 billion from the sharia business line this year, tripling last year’s figure of IDR10 billion, said Antony Japari, Marketing Director and Chief Marketing Officer.

Antony said the sharia insurance business potentials are still huge here. Moreover, the Islamic-based insurance is not limited to certain religion and can attract general customers. (source)

INDONESIA - TAKAFUL - Takaful Keluarga Books Rp 328 B Premium Revenue

JAKARTA (IFT) - PT Asuransi Takaful Keluarga, a large-scale Islamic life insurer, saw a 20 percent growth in the premium revenue to Rp 328 billion in November 2011 from Rp 273.33 billion year-on-year (YOY) mainly attributable to unit-linked insurance products. (source)

INDONESIA - TAKAFUL - Sun Life Insurance Sharia Optimism Grows in 2012

Jakarta, (29/11) - The development of the Takaful industry in this country showed an increase from year to year. In the year 2012 predict this increase will continue.

Head of Sharia Sun Life Financial, Heroine Utami says optimistic on Takaful 2012 will continue to grow. Because he sees the increasing population growth can be a target market, plus the awareness of society in the Islamic beransuransi higher. (source)

INDONESIA - TAKAFUL - Great Eastern Takaful eyes top 3 spot in Indonesia

thesundaily.com.my - KUALA LUMPUR (Nov 28, 2011): Great Eastern Takaful Sdn Bhd (GE Takaful) has unveiled a plan to become one of Indonesia's top three takaful players in three to five years, by introducing affordable takaful plans and leveraging on its bancatakaful distribution partnership with Bank OCBC NISP there.

Its CEO Mohamad Salihuddin Ahmad said the company will venture into the republic next year, initially in Java and Sumatera. It will then enter other areas such as Kalimantan and Sulawesi.  (source)

INDONESIA - BANKING - AutoMuamalat : strategic solution for car dreams

Jakarta (24 / 8) - Ahead of the holiday like-this, the need for private vehicles, especially cars increasingly felt. This happens because the number of people who want to home to home, met with the family and took off homesickness. No wonder the transaction and the lease of this four-wheeled vehicles increased sharply in moments like this.

So is there any alternative other than cash sale and lease can be made ​​public to get the car in a pinch before the feast day like this? AutoMuamalat is the answer. (source)

INDONESIA - TAKAFUL - 7 months after launch, Shariah insurance already 19 % turnover Sun Life Insurance

Jakarta (28 / 7). Takaful business is now starting to become a business sector that many ogled. Evidently some insurance companies have many divisions of conventional open Takaful. Insurance Sun Life Financial is one of them.
Head of Sharia Sun Life Financial, Srikandi Utami revealed that Sun Life insurance has long been eager entry into the Islamic sector. According to Islamic sector has great potential, broad market and the business is still small. (source)

INDONESIA - TAKAFUL - Islamic Premium Revenue of Two Reinsurers Increases

JAKARTA (IFT) – Islamic reinsurance premium revenue of PT Reasuransi Internasional Indonesia (ReINDO) and PT Nasional Reasuransi grows quite high in the first semester of 2011 mainly attributable to premium payment from life insurance companies.(source)

TAKAFUL - Takaful, Aviva Launch New Unit-Linked Products

 

In the first quarter of 2011, Tafakul Keluarga generated 22 percent premium revenue amounting to Rp 85 billion. (IFT/STANLIE)  

JAKARTA (IFT) - PT Asuransi Takaful Keluarga, a large-scale sharia life insurance company, and PT Asuransi Aviva Indonesia, a small-scale insurance company, will offer new unit- linked products this year. According to company officials, the publishing of the new products will increase the companies’ premium revenue. (full story - Indonesia Finance Today)

OPINION - MALAYSIA - Where is Malaysia's mega Islamic bank?

Industry executives agree in private that there are too many Islamic banks in Malaysia with a population of 27 million. This means that local Islamic banks, ideally, can merge and become bigger entities that can grow across borders.

 

IT LOOKS like we probably have to wait a little bit longer to find out who will win the two licences to set up mega Islamic banks in Malaysia. With a requirement of at least US$1 billion (RM3 billion) in capital, the announcement has been delayed since last year.

The two are set to be foreign-owned. News reports have talked about Bahrain's Al Baraka Banking Group's plan to head a group that will launch a US$10 billion (RM30 billion) Islamic bank.(full story)

TAKAFUL - Insurers buy gold over sukuk to boost returns

Indonesia’s Islamic insurers are starting to favour gold over bonds amid the fastest inflation in almost two years, seeking to boost returns following a ruling that allows them to invest in the precious metal.

PT Asuransi Takaful Keluarga, the country’s largest Islamic insurer, is looking to cut holdings of short-term shariah- compliant bonds to shift into the commodity, Ernawan Priarto, head of finance and accounting, said in an interview in Jakarta on February 18. Indonesia’s two other takaful operators, PT Jaya Proteksi Takaful and PT Asuransi Syariah Mubarakah, are also considering purchases of gold. (source)

TAKAFUL - Takaful Malaysia May Consider Intellectual Capital From Foreign Partners

CYBERJAYA, Nov 9 (Bernama) -- Kumpulan Takaful Malaysia may consider getting "intellectual capital" from foreign partners, its managing director Datuk Mohamed Hassan Kamil said Tuesday.

TAKAFUL - Takaful celebrate its anniversary with healthy walk program

Jakarta, (3/11). in lined with its 16th anniversary celebration PT Takaful Indonesia is conducting a healthy walk. They were 1200 participants of takaful employees and their families, last Sunday morning, October 31, 2010. Started at Arthaloka building Jl. Sudirman Jakarta and walking route was to Jl. Thamrin, Sarinah Dept. Store and back to Arthaloka building.

This event is in conjunction with the family gathering of Takaful Indonesia and witnessed by the Board of Commissioners, Board of Directors and shariah board of Takaful Indonesia, which is also the chairman of Baznaz. They were a live music performance by  Haddad Alwi, Vita and Anti.