By 2004, the total gross written premium (GWP) for takaful business (life and non-life combined) had grown to just under $1.4 billion.
Takaful Insurance Resources
Understanding Takaful Practice
Takaful originates from Arabic word Kafalah, which means "guaranteeing each other" or "joint guarantee". In principle, the Takaful system is based on mutual co-operation, responsibility, assurance, protection and assistance between groups of participants
GAIF Insurance Conference Exhibition
The Steering Committee of the 27th General Arab Insurance Federation (GAIF) has officially extended an invitation to local companies to showcase their products and services in the GAIF Insurance Conference Exhibition.
The three-day Exhibition will be taking place on the sidelines of the 27th GAIF Conference, which is being held in the Kingdom of Bahrain under the patronage of H.H. the Prime Minister, Shaikh Khalifa bin Salman Al Khalifa, on 26-28 February 2008.
The biennial Conference-widely regarded as the Arab World’s most important insurance industry event-will draw around 1,000 participants representing the Pan-Arab insurance sector elite. Companies, both in the insurance industry and those seeking optimum exposure within the Pan-Arab insurance sector, are strongly encouraged to exhibit alongside their regional counterparts-in tandem with the Conference theme ‘Towards A more Integrated Arab Insurance Market’.
Mr. Ashraf Bseisu, Chairman of the Bahrain Insurance Association (BIA), which is the official host of the GAIF 2008 Conference, re-emphasized the importance of local participation from all angles, pointing out that, ‘The success of this event depends on the collaborative effort of all local sectors, including that of local corporations, governmental, and non-governmental organizations. We are mobilizing all resources to ensure that this Conference will be successful, memorable, and truly reflect the image of Bahrain and its people.’
The GAIF Conference has garnered the support of Central Bank of Bahrain (CBB). The event’s lead Sponsor is the Arab Insurance Group (Arig) and the Bahrain Economic Development Board (EDB) is the Strategic Partner.
Gold sponsors include Bahrain National Insurance, AON Middle East, AXA Insurance, Bahrain Institute of Banking & Finance (BIBF), Solidarity, Swiss Re and Dubai International Financial Centre (DIFC). Silver Sponsors include Takaful International, Crescent Global Insurance Services, KPMG Fakhro, The Chartered Insurance Institute and Ernst & Young; and Bahrain credit is a Bronze sponsor.
Function sponsors include Nasco Karaoglan, Medgulf, Trust International, Arab War Risks Insurance Syndicate (AWRIS), Bahrain Kuwait Insurance Company and Doha Insurance Company.
Media sponsors are Al Bayan, Al Morakeb Al Inmai, Insure, Investors Magazine, Middle East Insurance Review and POLICY Magazine.
ZAIN is sponsoring the designated wi-max zone, and Gulf Air is the official carrier of the conference.(Source)
