11
th INTERNATIONAL TAKAFUL SUMMIT
LONDON
Millennium Gloucester Hotel, Kensington

6000

Subscribers

400

Delegates

52

Countries

44

Speakers

2

Days

1

Summit

About ITS

The growth of the International Takaful industry and demand of Shariah compliant financial products has seen The International Takaful Summit grow from strength to strength, dubbed by delegates and sponsors alike as “The Takaful event of the Year”.

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About ITS

About The Summit

The growth of the International Takaful industry and demand of Shariah compliant financial products has seen The International Takaful Summit grow from strength to strength, dubbed by delegates and sponsors alike as “The Takaful event of the Year”. The summit is now in its 11th year, the event on average attracts over 350 – 400 international delegates. What is unique to other commercial events is that this summit is created for the industry with the considerable support of the industry. The event is by invitation only and unlike other events the summit is free of charge to attend as it is fully subsidised by the hosting organisations and supporting sponsors.

ITS Delegates

In an industry filled with conferences, summits and workshops on Islamic finance, there is a keen need for outstanding events of excellent calibre that draw new institutions as well as industry stalwarts together. ITS takes great pride in achieving this through targeted delegate invitations and supremely focused events organised by a team of industry researchers.

The Summit has so far seen over 4000 International delegates participate from over 52 countries. Our delegates are top decision makers, Chairmen, Board Members, CEO’s, Presidents, Executive Directors, Vice President and other Senior Executives.

Industry participation also benefits from a dynamic platform ranging from government institutions, leading Takaful & Retakaful organisations, legal and academic delegates.

Watch ITS 2016 Highlights

Key stakeholders made presentations on leveraging the expertise in the London market to enhance global Takaful provision. They highlighted the fact London would be receptive to working with Takaful Operators to create a win-win strategy. This was further reinforced in the closing keynote address by Inga Beale, CEO, of Lloyd’s of London who reiterated the commitment of the leading insurance market to welcome Takaful providers.

Programme

The Takaful Industry - Adapting To Fundamental Change

  • 08.30
    ARRIVAL AND REGISTRATION / Cromwell Suite Entrance Hall
  • 08:30
    RECEPTION AND COFFEE / Conservatory
  • 09.00
    WELCOME AND OPENING REMARKS/ Cromwell Suite
  • Chair - Dr Alberto Brugnoni, Managing Partner, ASSAIF / Speaker - Adam Hassan, Vice President, The International Federation of Takaful & Islamic Insurance Companies
  • 9:30
    SESSION I: BREXIT, THE LONDON MARKET AND TAKAFUL
  • The Takaful and Re-Takaful industry has to work out effective ways of engaging and leveraging on the global insurance capacity. The London Market can play a vital role in delivering this connectivity. Post-Brexit, the London Market is expected to become even more responsive to Takaful and Re-Takaful operators as the UK looks to non-EU business to fill any loss of business.
  • Moderator - James Bagshawe, Board Member, International Insurance Association of London / Panellists - Dr. Terry Masters, CEO - ReSolutions, Aon Benfield | Dave Matcham FCII, Chief Executive, International Underwriting Association | Cameron Murray, Head of Middle East & Africa Commercial Division, Lloyd's | Susan Dingwall, Partner, Norton Rose Fulbright LLP
  • 10:30
    KEYNOTE SESSION:CREDIT QUALITY OF TAKAFUL COMPANIES AND OPERATORS: TRENDS AND OBSERVATIONS
  • Speaker - Mahesh Mistry, Senior Director, Analytics, A.M. Best
  • 11:00
    SESSION II: CHALLENGING TIMES FOR THE GCC TAKAFUL MARKET
  • After several years of lacklustre performance and accumulating deficits, the GCC Takaful markets are showing signs of consolidation and change. Adapting to this reality is likely to be painful.
  • Moderator - Azman Ismail, President, IIFIN Consulting Sdn Bhd / Panellists - Basem Odeh, CEO - Arabian Shield | David Anthony, Director, S&P Global | Steven Cosgrove, CEO, SABB Takaful - KSA | Dawoud Tawfeeq, CEO & Board Member, Ghazal Insurance Co. - Kuwait
  • 11:45
    COFFEE BREAK & NETWORKING / Conservatory
  • 12:00
    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.
  • Moderator: Tarmidzi Nordin, Director, Syarikat Takaful Malaysia / Speakers - Mahomed Akoob, Managing Director, Hannover ReTakaful | Omar Gouda, Managing Director, Africa Retakaful | Prof. Dr Volker Nienhaus, Professor of Economics, University of Bochum
  • 12:45
    SESSION IV: LAUNCH – MILLIMAN FAMILY AND GENERAL TAKAFUL REPORT
  • Family Takaful is often neglected in discussion on the Takaful Industry. In fact, Family Takaful forms the bedrock of the industry. In its path-breaking report, Milliman has charted the development and potential of Family Takaful.
  • Moderator - M. Iqbal Asaria, Associate, Afkar Consulting / Speakers - Safder Jaffer, MD & Consulting Actuary - Middle East & Africa, Milliman | Farzana Ismail, Head - Life Insurance & Family Takaful Consulting - MY, Milliman Advisors Sdn Bhd | Lindsay Unwin, Senior Actuarial Consultant - London Life Practice, Milliman LLP
  • 13:15
    LUNCH AND PRAYERS
  • Lunch (Conservatory) | Prayers (Harrington Boardroom)
  • 14:30
    SESSION V: INSURTECH – THE EMERGING CHALLENGE FOR THE TAKAFUL INDUSTRY
  • The insurance industry is far behind other sectors of finance when it comes to adopting technology. However, disruption to the fundamental insurance provision model by technological innovations is only round the corner. The Takaful industry cannot afford to be complacent in this regard.
  • Moderator - Sohail Jaffer, Head of International Business Development, Deputy CEO, FWU Takaful GmbH /
  • Keynote - Mike Harris, Founding Partner, Monument Partners
  • Speakers - Farid Haque, Co-Founder & COO, AssetVault | Andrew Thomas, Founder, KYND | Chris Gilbert, Chairman of the Board, MIRACL | Ali Murtaza, Manager, Centegy Technologies
  • 15:45
    SESSION VI: AFRICA – THE GROWING TAKAFUL INDUSTRY
  • Given its economic composition Takaful in Africa is likely to take a different trajectory. The industry already has provision for innovative agricultural risk mitigation. It needs much more customisation to capture the vast potential of this majority Muslim continent market.
  • Moderator - Dr Alberto Brugnoni, Managing Partner, ASSAIF / Panellists - Omar Gouda, Managing Director, Africa Retakaful | Tarig Osman, Managing Director The United Insurance Co (Sudan) Ltd | Omar Sheikh, CEO Takaful Insurance of Africa - Kenya | Adel Mounir, Secretary General, Federation of Afro-Asian Insurers & Reinsurers (FAIR)
  • 16:45
    COFFEE BREAK AND NETWORKING/ Conservatory
  • 19:30
    THE INTERNATIONAL TAKAFUL AWARDS 2017 CEREMONY / Cromwell Suite
  • Host - M Iqbal Asaria, Associate, Afkar Consulting Ltd / Keynote - Max Taylor, Chairman, Islamic Insurance Association of London
  • 08:30
    ARRIVAL AND REGISTRATION / Cromwell Suite Entrance Hall
  • 08:30
    RECEPTION AND COFFEE / Conservatory
  • 09:15
    SESSION VII: ASSET MANAGEMENT – A LIQUID REAL ASSET CLASS? / Cromwell Suite
  • Takaful Operators are often challenged by a lack of relevant asset classes to manage their participants' pools. New and innovative offering are needed to allow Takaful operators an adequate exposure to all asset classes. There is a dire need of creating an emerging real estate class, which is also liquid.
  • Moderator - Datuk Noripah Kamso, Fellow, Islamic Finance, Oxford Centre of Islamic Studies / Speakers - Jo Robrechts, Executive Chairman, Triamant | Hardeep Tamana, Managing Director, Avenir Registrars | Abbas Khaku, Senior Investment Associate, Amiri Capital
  • 10:30
    COFFEE BREAK & NETWORKING / Conservatory
  • 11:00
    SESSION VIII: MUTUALS – IS IT TIME FOR A RE-BOOT OF TAKAFUL?
  • The Takaful industry has been struggling to keep true to its mutual moorings. Regulatory and industry pressures are taking their toll. The time has come to offer some viable pathways to mutuality for the Takaful industry.
  • Moderator - Dr Alberto Brugnoni, Managing Partner, ASSAIF / Speakers - Paul Koronka, CEO, Regis Mutual Management | Zainal Kassim FIA, Senior Partner, Actuarial Partners Consulting Sdn Bhd | John Gilbert, Partner, M&G Advisory Services Limited
  • 12:00
    SESSION IX: SPREADING THE TAKAFUL MESSAGE
  • In fits and starts, Takaful is making headway in numerous markets. Key building blocks like financial inclusion and appropriate regulatory changes need to be in place to enable this growth in nascent markets.
  • Moderator - M Iqbal Asaria, Associate, Afkar Consulting / Speakers - Kazi Ali, Chief Consultant, Prime Islami Life Insurance Limited | Omer Elfaroug Ahmed, Asst. M/D Underwriting, Shiekan Insurance & Reinsurance Co - Sudan | Muhammad Zubair, Chief Executive Officer, AlHuda Centre of Islamic Banking & Economics
  • 12:45
    SESSION X: SHARIAH ISSUES IN TAKAFUL AND RE-TAKAFUL OPERATIONS
  • Fitting the mutual-oriented Takaful paradigm into a largely proprietary insurance structure is challenging. The Shariah challenges in this process throw up some interesting possibilities and issues.
  • Moderator - M Iqbal Asaria, Associate, Afkar Consulting / Speakers -Sheikh Zubair Miah, In House Scholar, Cobalt Underwriting | Sheikh Faizal Manjoo, CEO, Menara Consulting Ltd | Najib Al Aswad, Associate Director, IFAAS
  • 13:30
    LUNCH AND PRAYERS
  • Lunch (Conservatory) | Prayers (Harrington Boardroom)

Welcome Message

M. Iqbal Asaria

We are very pleased to welcome you all to the Eleventh International Takaful Summit. Afkar Consulting Limited and their events organiser partner, IstishariQ, pioneered the International Takaful Summits in London in 2007. We have now been able to re-arrange the timing of the Takaful Summit to early July as the overlap with the blessed month of Ramadan has ceased.

The continuing evolution of Takaful provision in many countries portends a raft of new emerging challenges for the growth of Islamic banking, finance and insurance. Reflecting on these potential challenges should enable effective ways to be found to enhance the provision of Takaful.

There are two new developments which can assist in the growth of the Takaful and re-Takaful industry. We have a potential solution for the provision of Re-Takaful for large real estate and construction projects. Indeed we are close to seeing the launch of a full-fledged Takaful Syndicate at Lloyd’s of London. The London Market is also eyeing the Takaful market to bridge any shortfall in business caused by Brexit.

We also continue to deepen our understanding of the kind of Insurtech solutions required to support this industry. The technology disrupters are already at the doors of the insurance industry and Takaful operators need to take heed and come up to speed in this area.

We also note that there is a divergence emerging in the range of acceptable Takaful provision models in many countries. This is a result of experience of the recent past and is a debate which needs to be held. This is leading to a fundamental re-think of the key underlying principles of Takaful enunciated over thirty years ago. Thus issues like the balance between risk sharing and risk transfer and provision of Qard Al Hassana by Takaful operators are coming back to the fore. Hitherto, these subtleties have been addressed non-transparently, via Wakala fees, performance incentives and the like. Many stakeholders in the Takaful industry are now even calling for a move back to mutuality and re-booting of the Takaful models. In this Summit we have allowed time to capture this debate as it could prove to be a watershed moment for the Takaful industry.

The Eleventh International Takaful Summit builds on the ten successful events held in November 2007, July 2008, July 2009, July 2010, July 2011, July 2012, February 2013, February 2014, February 2015 and February 2016.

In the International Takaful Summits we endeavour to enable market participants from all over the world to capture the potential for Islamic Finance and Insurance in the world. At every Summit, we strive to offer robust thought leadership and the most informed platforms and opportunities for our participants to get maximum benefit from this interaction.

We welcome you to the Eleventh International Takaful Summit and hope that you will become one of our many regular participants and supporters.

M Iqbal Asaria, CBE
Convenor
International Takaful Summit 2017

Speakers

The International Takaful Awards

The only industry recognition of excellence dedicated to the Takaful Industry.

Featuring the International Takaful Awards 2017

Afkar Consulting is proud to present the International Takaful Awards 2017.

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Featuring the International Takaful Awards 2017

The International Takaful Awards 2017 will take place at a gala dinner on the evening of the 11th July 2017.

The past few years have witnessed great strides pursuant to driving standards higher in all facets of the industry, but acknowledgement of this has been sparse with only cursory mentions of Takaful in various awards ceremonies.

Takaful and Re-Takaful encompass products and services so diverse that they deserve their own dedicated celebration of accomplishment. The International Takaful Awards will be held at the gala Awards Dinner on the evening of the 11th July 2017 and will recognise the achievements of those companies and individuals that have made significant contributions and shown leadership in the fields of Takaful and Re-Takaful.

ITS 2017 Sponsors

The Summit is the perfect way for partners to engage with the Takaful & Retakaful community.

Hailed as “The Takaful event of the year” by sponsors and delegates alike the  International Takaful Summit (ITS) is renowned for assembling the most important players in the global Takaful & Re-Takaful industry.

Now in its 11th year, the summit continues to play a pivotal role in the further consolidation and development of the Takaful & Re-Takaful market worldwide.

With unparalleled networking opportunities of over 400 international delegates to include top level CEO’s and managers, over 40 renowned speakers, government officials and leading media agencies under one roof, the summit offers great insight into the Takaful arena as well as generating great opportunities and exposure to participating organisations.

For our sponsorship pack or to discuss suitable packages with our representatives contact us on: sponsorship@takafulsummit.com

Or call:
Ms Randa Buaras
T:  +44 (0)208 861 5324

Alternatively click here to submit your request online.

Supporters

Key Features

The International Takaful Summit offers a comprehensive programme complete with Interactive sessions, exhibitions and private functions offering a unique and in-depth look into the Takaful & Re-Takaful industry and the way forward.

Programme

ITS offers a flagship 2 day programme with in-depth analysis and insight about the forces driving change in the industry.

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Programme

The programme typically contains 8 – 9 sessions spread across the two day summit which includes, presentations by on average 40 leading speakers, panel discussions and Q&A sessions which offer an exceptional interactive platform for delegates.

Executive Boardroom

A strategy session hosted at Norton Rose Fulbright providing a platform for senior members from the Takaful & Retakaful industry to further explore the challenges and way forward for the industry in the next 10 years.

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Executive Boardroom

A strategy session hosted at Norton Rose Fulbright providing a platform for senior members from the Takaful & Retakaful industry to further explore the challenges and way forward for the industry in the next 10 years.

ITS Exhibitions

In conjunction with the two day programme The International Takaful Summit offers great exhibition platform for attendees showcasing the latest services the industry has to offer.

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ITS Exhibitions

Exhibitions provide a great platform for participating companies to reach our delegates. Companies are offered a 4x3 metre exhibition stand area allocation with addtional space for built in stand if required. If you would like to showcase your company why not contact us.

The International Takaful Awards

The International Takaful Awards remains the only industry recognition of excellence dedicated to the Takaful Industry.

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The International Takaful Awards

The International Takaful Awards are the highlight of the summit. It is the social event of the programme to celebrate and recognise excellence and achievement of those companies that operate within the global Takaful and Re-Takaful sector. High profile VIP guests are invited to the ceremony.

Venue

About the Hotel

Set against fashionable South Kensington, Millennium Gloucester Hotel London Kensington is the perfect combination of charm, comfort, and attentive hospitality. With its convenient location at the heart of the city and Gloucester Road Underground Station just next door, you’ll discover how easy it is to explore the city. Hyde Park, the Royal Albert Hall, and Kensington Palace are all just a short walk away.

Millennium Gloucester Hotel London Kensington