AIG Re-Takaful to spur industry growth
AIG Re-Takaful (L) has brought in additional capacity to spur growth of the Malaysia general takaful industry which is currently constricted by limited capacity. In addition, the fully Shariah-compliant unit of insurance giant American International Group Inc (AIG) is differentiating itself from competitors consisting of retakaful operators backed by global reinsurance companies. AIG Re- Takaful CEO Idzuddin Zakaria said the company has treaty and facultative capacity to take on larger risks and offer more sophisticated products and services. AIG Re-Takaful, in operation since April 2014, has undertaken a few facultative risks which frees takaful companies to undertake more risks and thus growing the general takaful sindustry. AIG Re-Takaful will also explore and expand on opportunities to grow in the Malaysian market.
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