Swiss Re to set up retakaful operation in Malaysia

Swiss Re has received the approval from BNM to open a dedicated retakaful operation in Kuala Lumpur writing both family and general retakaful businesses.

Swiss Re has been offering family retakaful solutions in the Middle East for the past 3 years.

Statistics on takaful business:

• Average annual growth rate between 2004 and 2007: 25% (inflation adjusted). Conventional: 10.2%
• Takaful premiums in 2007: US$1.7 bil
• 1.5 bil Muslim population worldwide

Source: Business Times

Swiss Re Expects Rates to Fall

Swiss Re expects reinsurance rates to fall in most locations and in most lines of business. The better rates are due to lower claims from natural disasters in 2006 and 2007.

Source: Business Times