Swiss Re Retakaful

At Swiss Re, we recognise the increasingly important role that Islamic reinsurance, or Retakaful, plays.

We have a dedicated Retakaful operation in Kuala Lumpur, Malaysia and we are extending our family and general solutions to Takaful operators worldwide.

Clients can trust our solutions, backed by Swiss Re’s global expertise, financial strength and Shari’a (Islamic law) credibility.

Partnering Swiss Re

We are committed to offering all of Swiss Re's well developed services in the conventional reinsurance area to our Takaful clients. We provide services in the areas of underwriting, claims, training, product development and risk management.

Our value propositions are:

  • We assist clients in setting up a Takaful operation.
  • As a full service provider, we offer our Takaful clients the same full range of products, services and expertise as are offered to conventional reinsurance clients.
  • We provide an innovative and Shari’a compliant Retakaful model with the support of our well-respected Shari’a Board.
  • Our strength in product development means we can help our clients to develop innovative Takaful products.
  • We can also offer assistance to our clients in the development of alternative distribution channels.
  • The Retakaful operation can also rely on Swiss Re’s financial strength and capacity, and tap into the Group’s technical expertise and global resources.

Islamic insurance

Takaful is a system based on the principles of mutual assistance and voluntary contribution where risks are shared collectively and voluntarily by a group of participants and complies with the fundamentals of Shari’a (Islamic law). Participants in a Takaful arrangement agree to donate a sum of money (tabarru) to a common pool with the intention of assisting other fellow participants financially in case of any calamity. Takaful has been developed as a Shari’a-compliant alternative to conventional insurance which contains impermissible elements such as uncertainty and interest.

Retakaful - Operating Model

Swiss Re began offering Retakaful solutions for the Family (Life) Retakaful business in the Middle East in 2006

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Changes create Re/Takaful potential

Historically, insurance has not been popular in Islamic countries. Demographic change and other societal transformations are, however, creating market opportunities for Takaful.

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