Insight and Intelligence on the London & International Insurance Markets

20 April 2018

Search archive

Global insurers to spur Islamic insurance initiatives

16 July 2012

The financial interest coverage (FinC) created to circumvent restrictions on Islamic insurance in global programmes will probably be spurred by international insurers with takaful capabilities such as Munich Re, Swiss Re and Hannover Re, according to a report.

For entities in jurisdictions where unlicensed takaful - a form of mutual insurance compliant with Islamic doctrine - is prohibited, FinC allows coverage to be offered to the firm's parent company instead.

Loss or damage sustained by the subsidiary triggers the cover,...

If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership

This article was published as part of issue July 2012/3

Euromoney Trading Limited - 3rd Floor, 41 Eastcheap, London, EC3M 1DT, United Kingdom. The content of this website is copyright of Euromoney Trading Limited 2018. All rights reserved Euromoney Trading Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.