05.02.2013 - Takaful puts pressure on local markets
Because Takaful companies are competing for the same market as conventional insurers, with much the same product offering, local markets could come under strain, according to Vasilis Katsipis, General Market of Market Development for A.M. Best. Takaful is growing faster than traditional insurance, which increases the competition to conventional insurers, according to Katsipis. “Very few Takaful companies have actually focussed in developing new offerings, they are competing with a Shari’ah-compliant product for the same type of business,” he explained..........................................Full Article: Source
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