Session III

Opportunities For Re-Takaful To Come of Age

Re-Takaful has often been treated as a junior partner to reinsurance. Scholars have always been unhappy with this situation. Now, there are opportunities emerging which can help Re-Takaful come of age.

hannoverRe-2017

Session III: 11 July 2017
Presentation: Retakaful Environment
Presented By: Mahomed Akoob
Designation: Managing Director - Hannover ReTakaful

Retakaful Environment:

- Supply
- Demand
- Market Issues
- Four Basic Elements

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volker nienhaus 2017

Session III: 11 July 2017
Presentation: Guiding Principles for Retakāful
Presented By: Prof. Dr. Volker Nienhaus
Designation: University of Bochum (Germany)

Guiding Principles for Retakāful

- Governance of Retakaful Undertakings:
1.1 Comprehensive Governance Framework
1.2 Code of Ethics and Conduct
1.3 Truthfulness, Honesty and Fairness
1.4 Due Care and Diligence
1.5 Systems and Procedures

- Compliance with Shariah Principles
2.1 Business is Sharīʿah-Compliant

- Prudential Framework
3.1 Adequate Risk Management Framework
3.2 Solvency of Retakāful Undertakings
3.3 Investment Strategy

- Transparency
4.1 Appropriate Disclosures

- Supervisory Review
Supervision of Retakaful /reinsurance Programmes

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Download Supporting Report: The Guiding Principles of IFSB-18