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Etiqa is a digital insurance/takaful player in Malaysia with over 55% of market share in online premiums/contributions as of 2020. [1] It is also a bank assurance player in Malaysia , in Digital Life Insurance in Singapore , and a Group Medical insurer in the Philippines .
Takaful (Arabic: التكافل, sometimes translated as "solidarity" or mutual guarantee) [1] is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia-compliant alternative to conventional insurance, which contains riba (usury) and gharar (excessive uncertainty).
Amana Takaful PLC, doing business as Amana Takaful Insurance, is a Sri Lankan insurance company which follows the principles of Islam and it is listed in the Colombo Stock Exchange. It provides services ranging from life insurance and different types of general insurance solutions such as motor vehicle insurance , health insurance , theft and ...
Since its establishment in 1979, Salama has been a leader in the Takaful industry, serving over 450,000 customers and offering coverage exceeding AED 10 billion. The company won Best Takaful Company (Middle East) at the 2012 International Takaful Awards.
FWD Group also purchased HSBC’s stake in a Malaysian insurance joint venture in 2018, [19] acquiring 49% of HSBC Amanah Takaful (Malaysia), [16] now renamed FWD Takaful (Malaysia). [ 21 ] In June 2019, FWD Group purchased MetLife 's business in Hong Kong [ 7 ] [ 14 ] reportedly for around $400 million. [ 10 ]
Other services include leasing, equity markets, investment funds, insurance (takaful), and microfinance. [ 60 ] [ 44 ] These products—and Islamic finance in general—are based on Islamic commercial contracts ( aqad i.e. a commitment between two parties) and contract law, [ 61 ] with products generally named after contracts (e.g. mudaraba ...
Abu Dhabi National Takaful Company PSC (Arabic: شركة أبوظبي الوطنية للتكافل ش.م.ع.) -- known simply as Takaful, تكافل, or ADNTC-- was established in 2003 [2] by the Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Investment Company. [2]
Weqaya (Arabic: وقاية), known also as Weqaya Takaful Insurance and Reinsurance Company, is one of the largest joint stock companies in Saudi Arabia, with a paid up capital of SR 200 Million. Weqaya Head Offices are located in Riyadh and there are three Regional Offices in Jeddah and Khobar .