Takaful - Underwriting Loss, Underwriting Deficit, Underwriting Gain and Surplus
Takaful - Underwriting Loss, Underwriting Deficit, Underwriting Gain and Surplus They are closely related concepts, but the terminology depends on whether we are talking about conventional insurance...
Takaful - Understanding Underpricing, Underwriting Loss and Shareholders’ Capital
Takaful - Understanding Underpricing, Underwriting Loss and Shareholders’ Capital The sentence means: If a conventional insurer deliberately charges premiums that are too low in order to attract more...
Takaful - Alignment of the Interests of All Stakeholders
Takaful - Alignment of the Interests of All Stakeholders Alignment of interests means designing the governance, incentives and reward systems of an organisation so that the important stakeholders are...
Takaful - Conflict in an Agent-Principal Arrangement
Takaful - Conflict in an Agent-Principal Arrangement This issue is about a possible conflict of interest between the Takaful operator and the participants under a Wakalah arrangement. The basic relationship...
Takaful - Margin in Pricing
Takaful - Margin in Pricing In Takaful pricing, a margin is an additional amount included above the central or best estimate of expected costs to allow for uncertainty and adverse experience. The basic...
Takaful - Pricing, Solvency Risk and Adequacy of Tabarru’
Takaful - Pricing, Solvency Risk and Adequacy of Tabarru’ Pricing in Takaful is slightly different from pricing in conventional insurance because the initial contribution paid by a participant may not...
Takaful - Maintaining Sufficient Capital
Takaful - Maintaining Sufficient Capital Takaful operations need to maintain sufficient capital and financial resources to remain financially stable and capable of meeting their obligations. Takaful...
Takaful - Simplification of Service and Reduction of Capital Reliance
Takaful - Simplification of Service and Reduction of Capital Reliance The passage argues that the Takaful industry should not solve every problem simply by requiring more capital. Instead, it should...
Takaful - Transparency
Takaful - Transparency Transparency is especially important in Takaful because participants usually pay their contribution first and receive the actual financial benefit later, when a covered event occurs...
Takaful - Definition and Purpose of Retakaful
Takaful - Definition and Purpose of Retakaful Retakaful is a Shari’ah-compliant arrangement of mutual assistance and risk sharing among Takaful risk funds. It allows Takaful risk funds to collectively...