...Strong Growth and Increasing Systematic Importance: The Malaysian takaful sector had strong growth in 2015. Family takaful represented 29.7% in 1H15, by total new life insurance business, up around 7% on end-2014. General takaful by gross direct contributions was 11.6%, up 1% in 1H15. Bank Negara Malaysia states that Malaysia dominates the takaful market in ASEAN, with almost two-thirds market share (71%). The country has around 12 registered takaful operators. Promising Sector Prospects: Growth potential for the sector is favourable, particularly due to encouraging demographics and government support. Wider product innovation and distribution coverage is likely to drive sector growth as public acceptance of the model increases. Malaysia's takaful industry grew faster than conventional insurance, with general and family takaful recording 8.3% and 9.7% growth, respectively, compared with conventional general and life insurance growth of 6.6% and -0.4%, respectively, annualised, as end-June...
