ICMIF member Amana Takaful, Sri Lanka, recently announced a “payment of surplus” to its general insurance customers. This means Takaful policyholders will receive a proportionate rate from the surplus of the risk fund.
As opposed to conventional insurance the Takaful concept not only benefits claimants but also takes care of non-claimants. Non-claimants receive a proportionate share of the surplus from the risk fund at the end of a defined period.
“With our relentless pursuit to achieve sustainable growth and profits we are delighted to share a surplus in the first year of our revised strategic plan. Non-claimant Takaful policyholders will receive their share of the surplus amounting to 12.5% of the residual portion of the Risk Fund shortly”, said Fazal Ghaffoor, Chief Executive Officer, Amana Takaful.
“Whilst thanking our customers for subscribing to products and services of Amana Takaful, we look forward to their valuable patronage in the future. We shall make every endeavour to keep rewards coming their way over the years”, he concluded.