Session VI

Key Issues in Re-Takaful Provision

Dr Ludwig Stiftl

Session VI: 13 July 2011
Presentation: Reflections on Long Term Qard al Hassan in Takaful / Re-Takaful
Presented By: Dr Ludwig Stiftl
Designation: Head of Retakaful Center of Competence, Munich Re

Reflections on Long Term Qard al Hassan in Takaful / Re-Takaful

Agenda:

- Problems with Qard Hasan
- If Qard Hasan becomes more than marginal
- Types of Long Term Qard Hasan
- Reason for emerging of persistent Qard
- Reversing the effect on the wakala fee
- Solidarity Qard
- Qard due to high severity/low frequency losses (Volatility Qard)
- Mapping IFRS and AAOIFI Islamic standard: Where is the qard?

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Mahomed Akoob

Session VI: 13 July 2011
Presentation: Getting Takaful Providers to Utilise Retakaful Capacity as a First Option
Presented By: Mahomed Akoob
Designation: Managing Director, Hannover Re Takaful

Retro and Retakaful

Agenda:

- Retakaful: How it works
- Retakaful: Why?

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Zainal Abidin

Session VI: 13 July 2011
Presentation: Retakaful -Risk Sharing or Risk Transfer?
Presented By: Zainal Abidin Mohd Kassim
Designation: FIA, Actuarial Partners

Retakaful -Risk Sharing or Risk Transfer?

Agenda:

- The case for risk transfer
- Why risk sharing
- Basis of the Global Financial System
- Lessons from the 2008 Financial crisis
- How risk sharing works
- What is required for risk sharing to work
- Does Homo Islamicus exist?
- The choice between retakaful and reinsurance
- The Should Nots
- Actuarial Partners Should retakaful be done by pooling across all cedants in a year or separately for each cedant across several years
- Can retakaful deal with highly volatile risks
- So why is retakaful different from reinsurance?
- So (really) retakaful or reinsurance?

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Duncan Garland

Session VI: 13 July 2011
Presentation: Retro and Retakaful
Presented By: Duncan Garland
Designation: Executive Director, Willis Group

Retro and Retakaful

Agenda:

- Setting the Scene
- Retrocession Market Risk & Catastrophe Losses Update
- Reinsurance and Retakaful Market Capitalisation
- Peak Exposure Solutions
- Recent Natural Catastrophe losses and lessons learned

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