New Sharia law reinsurer to be based in Kuala Lumpur
Swiss Re has won Malaysian central bank (Bank Negara Malaysia) approval to start up an Islamic reinsurance business (retakaful - complying with Sharia law) in Kuala Lumpur.
"This new licence will allow us to consolidate and enlarge the scope of our efforts by also providing general retakaful solutions," said Marcel Omar Papp, head of Swiss Re's Retakaful unit.
The licence allows Swiss Re to offer family and general Islamic retakaful, or reinsurance, globally.
"Takaful is set to grow and we look forward to deploying our expertise and capacity to meeting the needs of existing and new clients for Sharia (Islamic law) compliant Retakaful,” said Papp.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
