Session II: 12 July 2011
Presentation: Key Solvency Requirements for Takaful Operators
Presented By: Susan Dingwall
Designation: Partner, Norton Rose LLP
Key Solvency Requirements for Takaful Operators
Agenda:
- IFSB Standard on Solvency Requirements
- Background to the IFSB’s paper
- Key principles
- Consistency with regulatory principles applied to conventional insurance
Session II: 12 July 2011
Presentation: Risk Management in Takaful
Presented By: Dawood Taylor
Designation: Senior Regional Executive - Takaful Middle East, Prudential Corporation Asia
Risk Management in Takaful
Agenda:
- An Overview of Risks in Conventional Insurance
- Conventional / Mutual Insurance / Takaful Comparison
- Typical Takaful Structure
- Risk Overview in a Takaful Operation
- Additional Issues Relating to a Takaful Operation
- Managing Risks in Takaful
- IFSB Takaful Survey
Session II: 12 July 2011
Presentation: Capital Analysis of Takaful Companies
Presented By: Kevin Willis
Designation: Director Financial Institutions Ratings, Standard & Poor's Financial Services Ratings
Capital Analysis of Takaful Companies
Agenda:
- S&P Capital Model in Context
- What is Capitalization?
- How Much Capital Is Necessary?
- What is a Takaful Company’s Risk Framework?
- S&P's assessment of Takaful Capital Adequacy
- S&P Capital Model in Context
- Overview of Capital Model
- Takaful fund deficits – an interpretation
- Capital Model Confidence Levels
- S&P Ratings: Capital Adequacy vs Capitalization
Asset Risk Charges
- Asset Charges – Equities
- Asset Charges – Property
- Asset Charges – Credit
- Asset Liability Management Charges
Liability Risk Charges
- Underwriting Risk: Non-life Pricing Risk
- Liability Charges - Life
- Underwriting Risk: Reserve Volatility
- Catastrophe Capital Charge
Relevant Standard & Poor’s Criteria Publications:
- Standard & Poor's Approach To Rating Takaful And Retakaful (Islamic Re/Insurance) Companies, 30 March 2009
Session II: 12 July 2011
Presentation: Developments in the Takaful Sector - A Rating Agency Perspective
Presented By: Vasilis Katsipis
Designation: General Manager, Analytics, A.M. Best
Developments in the Takaful Sector - A Rating Agency Perspective
Agenda:
- Financial Strength Ratings
- Improving business profile
- Financial performance improves but varies significantly between operators
- Improving country risk
- Basis of trend analysis
- Family Takaful premium development
- GI Takaful Premium development
- Family Takaful
- GI Takaful profitability
- Investments
- Capitalisation