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Slide 1: Recent Trends in Takaful A Presentation by Claude Penland, Associate of the Casualty Actuarial Society www.ClaudePenland.com
Slide 2: What is Takaful?  “Takaful is an Islamic insurance concept which is grounded in Islamic muamalat (banking transactions), observing the rules and regulations of Islamic law.” See http://en.wikipedia.org/wiki/Takaful Also see www.TakafulMe.com  
Slide 3: Recent Country Trends   Bahrain market growing http://bit.ly/9N8AOB Ireland looks to introduce Islamic Finance laws http://bit.ly/i73DBE Takaful is fastest-growing area of Saudi Arabian market http://bit.ly/9YJYk1 Saudi Arabian market may consolidate http://bit.ly/fIv2Aw Islamic finance in East Africa is increasing http://bit.ly/bEIDKj   
Slide 4: Country Trends, continued  Malaysia needs Takaful-qualified employees http://bit.ly/cUjTmg, but is developing them http://bit.ly/9UyipV Bermuda a future possible growth area http://bit.ly/bHWWd7 Regulations governing Takaful separated from traditional insurers in UAE http://bit.ly/cB3Ar8 Russia is considering Sharia banking as an initial step http://bit.ly/epWAEr   
Slide 5: New / Growing Underwriters   4 New Malaysian licenses http://bit.ly/gJeqhb 5 New UAE writers expected in 2011 http://bit.ly/d9GNVn Abu Dhabi National http://bit.ly/ahUBLh ING http://bit.ly/9FUjfr Great Eastern looks to expand Takaful in China, Brunei, Singapore and Indonesia http://bit.ly/a8aDjD Takaful Brunei Darussalam Sendirian Berhad launched due to merger http://bit.ly/h6YGXr    
Slide 6: Underwriters, continued   Gulf Takaful in Kenya http://bit.ly/cfh7Vq FCB Takaful in Kenya http://bit.ly/9zuafh Halal Takaful http://bit.ly/9rDtp4 MAA Takaful expects growth http://bit.ly/bQD1MB T’azur Company (Takaful) treaty with Hannover Retakaful http://bit.ly/cdfmP0 African Takaful Re in Egypt http://bit.ly/9FEHdb    
Slide 7: Recent Product & Distribution Trends  Dual agencies that sell both traditional insurance and Takaful are growing http://bit.ly/eOjRyP Defaults, liquidations and downgrades have been substantial, pointing to significant future M&A activity http://bit.ly/b4grBu Royal Award for Islamic Finance acknowledgements http://bit.ly/9lYBVq Read more at www.TakafulMe.com   