Takaful
Allianz in Uber tie-up; Assured Partners acquires SW broker; BGL and Covea to launch new direct brand; and Twelve Capital/Eos unveil insurtech focused growth fund
Post wraps up the major insurance deals, launches and investments of the week
Interview: Faizal Karbani, CEO, Insure Halal
Halal Insure has recently launched sharia-compliant household insurance covers. Its CEO Faizal Karbani speaks to David Worsfold about his hopes for takaful insurance in the UK.
This week in Post: BIA shortlist and other insurance news
This week we unveiled the long-awaited shortlist for the British Insurance Awards.
Analysis: Takaful, all promise and little delivery
With more than three million Muslims in the UK, there has long been a feeling that sharia-compliant insurance products should find a market but the reality has proved the opposite. So far, every attempt to establish a takaful insurer in the UK domestic…
Asia Capital Re expands with Malaysia and takaful purchases
Singapore-headquartered ACR Capital Holdings, owner of Asia Capital Re, has completed the purchase of stakes in two businesses for undisclosed sums.
Brokers must offer more Shariah compliant products, says IIAL
The Islamic Insurance Association of London has called for brokers to better meet their Muslim clients’ needs by offering Shariah compliant products.
Cobalt gets Lloyd's go ahead on Shariah compliant syndicate
Cobalt is to launch Lloyd’s first fully Shariah compliant syndicate, having received 'in principle' approval from the Lloyd's Franchise Board.
Zurich acquires MAA Takaful in Malaysia
Zurich has expanded its presence in Malaysia with the acquisition of takaful insurer MAA Takaful for MYR525m (£90m).
Cobalt gets backing of Bermuda insurance group
Shariah compliant insurance provider Cobalt Insurance Holdings has received an investment boost from Bermuda-based Armour Group Holdings.
Local markets to benefit as Lloyd's targets more shariah compliant underwriters
Moves by the London market to embrace the provision of Islamic insurance products will provide a boon to local markets and customers, according to the CEO of the Dubai Islamic Economy Development Centre.
London heads to Dubai for inaugural Islamic Insurance conference
The Islamic Insurance Association of London (IIAL) will hold its first conference with the Islamic insurance and risk community in Dubai next Sunday (8 November) to see how the sector can move to the next level.
Interview: Richard Bishop: Complex and compliant
Cobalt Underwriting founder Richard Bishop talks to Post about why he launched London’s first Islamic insurance managing general agent – and why London needs to stay relevant.
Cobalt selected as ‘insurer of preference’ for Paramount Resort
Shariah-compliant managing general agent Cobalt Underwriting has been selected as the preferred insurer for the £3bn London Paramount Entertainment Resort in Kent, Post can reveal.
AIG deal with Cobalt a 'statement' for London to be a global centre of Islamic finance
AIG has made 'clear statement' on behalf of the London insurance market that it is keen to make London a leading global centre for Islamic finance, according to Cobalt Underwriting CEO Richard Bishop.
XL adds fine art and specie to suite of Shariah compliant products
XL Group has extended its support for Shariah compliant managing general agency, Cobalt Underwriting, by adding fine art & specie coverage to its suite of products. The insurer already provides cover for property, construction and financial lines.
XL Group extends Shariah compliant capacity to financial lines
XL Group has extended its Shariah compliant capacity to financial lines products across financial institutions, professional indemnity and management liability.
Willis launches Shariah compliant real estate product
Willis has launched the UK's first Shariah compliant commercial real estate insurance solution.
QBE signs deal with Shariah-compliant underwriter
QBE is the second insurer to provide capacity to Shariah-compliant MGA Cobalt underwriting.
MetLife expands in Malaysia
MetLife has reached an agreement with Malaysia's AMMB Holdings, which owns the fifth largest bank in Malaysia, to form a strategic partnership involving AmLife Insurance Berhad and AmFamily Takaful Berhad.
Fitch Ratings expects further Malaysia market consolidation
In an outlook report, Fitch Ratings believes the requirement for composite insurers to segregate operations into life and general insurance units could mean further consolidation in the market.
Government's growth plan tipped to boost takaful market
The government's insurance growth action plan could provide a much needed boost to the UK's commercial Islamic insurance market, according to PwC's Mohammad Khan.