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

Takaful Hurdles: Sri Lanka Islamic insurer hit by lack of compliant investments, bad weather

Posted on 06 May 2011

Amana Takaful, a Sri Lanka based insurer operating on Islamic Shariah principles said it lost less money in 2010 despite higher claims, but was hamstrung by the lack of compliant instruments to generate higher investment income.
In 2010 gross written premium was flat at 1.17 billion rupees. The group had tightened underwriting in its Maldives business, resulting in a drop of revenue to 2.5 million US dollars from 3.2 million a year earlier……………………………………….Full Article: Source

 
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