Best general takaful provider: HSBC Amanah

Although Takaful Malaysia remains a major player in the field of shariah-compliant insurance, offering some 117 types of general takaful schemes, it is primarily focused on southeast Asia. In contrast, the winner of this year’s award, HSBC Amanah, has a global reach. It now offers general takaful products to both its retail and corporate clients in Singapore, Malaysia, Brunei, Saudi Arabia, the UAE and the UK, via a combination of its own manufacturing capability and white labelling. The general takaful offering was only initiated in late 2004, however, meaning that volumes are still small.

Although Takaful Malaysia remains a major player in the field of shariah-compliant insurance, offering some 117 types of general takaful schemes, it is primarily focused on southeast Asia. In contrast, the winner of this year’s award, HSBC Amanah, has a global reach. It now offers general takaful products to both its retail and corporate clients in Singapore, Malaysia, Brunei, Saudi Arabia, the UAE and the UK, via a combination of its own manufacturing capability and white labelling.