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PolicyStreet granted Takaful and Retakaful license

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Magazine Issue: 
Reinsurance, a chair for two [3]
Magazine date: 
Jan 2024

PolicyStreetPolicyStreet, a Kuala Lumpur-based insurtech, has been granted approval to carry out Takaful and Retakaful operations in Malaysia.

This new window will allow the start-up to provide insurance solutions in line with Islamic principles.

Data from the Malaysian Takaful Association indicate that the Takaful Family business has ended the 2022 financial year with an 18.3% increase in turnover to 10.06 billion MYR (2.3 billion USD).

The General Takaful business posted premiums amounting to 4.64 billion MYR (1.1 billion USD), up by 21% over one year.

Read also | Malaysian insurance market: 8.4% annual growth in 2026 [4]

Wed, 17/01/2024 - 16:23

Source URL: https://www.atlas-mag.net/en/category/pays/malaisie/policystreet-granted-takaful-and-retakaful-license

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-207-january-2024
[4] https://www.atlas-mag.net/en/category/pays/malaisie/malaysian-insurance-market-84-annual-growth-in-2026