Munich Re for Corporate Takaful Plans

In addition to our financial strength, technological prowess, and expert human resources, the stakeholders can now further their confidence and trust in our ability to perform and deliver by virtue of our Re-Takaful arrangements with ‘Munich Re’ and ‘Takaful Re’ for our Corporate and Individual Takaful Plans.

Munich Re for Corporate Takaful Plans (AA-)

About Munich Re The Munich Re Group operates worldwide, turning risk into value. In the financial year 2007, it achieved a profi t of €3,937m on premium income of approximately €37bn. With over 38,000 staff at more than 50 locations, it has become the world‘s leading risk carrier and financial services provider.

With premium income of around €21.5bn from reinsurance alone, it is one of the world’s leading reinsurers. Its primary insurance operations are mainly concentrated in the ERGO Insurance Group – one of the largest insurance groups in Europe and Germany with premium income of almost €17bn.

34 million clients in 26 countries place their trust in the services and security it provides. The global investments of the Munich Re Group amounting to €176bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.

The Munich Re Group is in a unique position to contribute to the sustainable and secure development of the insurance industry and society. Munich Re has deepened this long-standing commitment in recent years. Its scope extends far beyond the role of a pure risk carrier to include risk prevention, risk management and a wide range of training and consulting services.

Munich Re Re-Takaful at a Glance:

• The first foreign ReTakaful operator established in Malaysia
• Composite license for family and general ReTakaful business
• Munich Re’s Global Retakaful Hub and Centre of (Re)Takaful Competence
• Geared to support takaful operators in their effort to achieve regional and international expansion
• Excellent AA- (very strong) financial strength rating by Standard & Poor’s
• Munich Re Retakaful operates on pure wakala model both in general and family retakaful
• Transparent contract terms, in particular in respect of wakala fee, surplus sharing and Qard e Hasan
• Level of service and technical assistance Munich Re is known for, but tailored to takaful operators
• International Shari’a Board ensuring global Shari’ah compliance
• We see Shari’a compliance as a chance for innovation, not as a limitation Family Re-Takaful
• Operates on a pure wakala model to ensure international Shari’a compliance
• Global pool covering worldwide family retakaful business for optimal risk diversifi cation
• Covering all family takaful risks plus attaching riders
• Offers unique, Shari’a-compliant, pooling concept for large risks
• Annual surplus distribution method ensures intergenerational equity

Shari’ah Advisory Board

• Shari’a Advisory Board composed to cover the three main regions of the Islamic world, Southeast Asia, Middle East and Indian Sub continent.

• High-ranking scholars, representing practical, theoretical and methodological expertise, as well as our straight and innovative approach.