E06: Takaful and retakaful - challenges and opportunities for actuaries

Document description

With Europe focussed on Solvency II, the emerging world has seen signifi cant growth in Takaful (Islamic) insurance.  Takaful market has more than 200 operators, spans over 30 countries and with $6 billion in total gross premiums, it is expected to double in size by 2015. There is a signifi cant gap of actuarial input to make this a viable proposition so what are the opportunities for actuaries?