Indonesia Islamic Insurance Assets Increased 47.6% in 2010

Indonesia Islamic Insurance Assets Increased 47.6% in 2010
By Suryani Omar - Mar 15, 2011 10:09 AM GMT+0500
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Business ExchangeBuzz up!DiggPrint Email .Indonesia’s Islamic insurance assets surged 47.6 percent to 4.5 trillion rupiah ($512 million) last year from a year earlier, Indonesia’s Capital Market and Financial Institution Supervisory Agency said.

Islamic insurance, or takaful, is based on the Koranic principle of mutual assistance where policy holders contribute a sum of money to a common pool managed by the company.

Premiums for the takaful sector rose 35.7 percent to 3.2 trillion rupiah in 2010 from a year earlier, Isa Rachmatarwata, head of the insurance bureau at the agency, said in a written response to questions.

Islamic insurance made up 2 percent of the total 224.9 trillion of insurance assets in the country, Rachmatarwata said.

Courtesy by: Bloomberg