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Islamic Finance Briefing - Categorized | Insurance (Takaful), Market Moves more

Islamic insurance: Bermuda’s ‘clever play’

Posted on 20 April 2011

A study by Ernst & Young on Islamic insurance — takaful and retakaful — undercores impressive growth in the market and Bermuda’s new emphasis on attracting this business is a shrewd strategic move, says a leading re/insurance trade publication.
“Reactions” said that Bermuda’s decision to begin marketing itself as a centre for Islamic insurance and reinsurance is “a clever play” by the island. A Bermuda Finance Ministry feasibility study into Islamic finance concluded there are no major legislative or regulatory impediments to introducing Islamic financial product offerings in Bermuda……………………………………….Full Article: Source

 
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