Transcript Slide 1
STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL Brief introduction of ARIL ARIL has incorporated in Labuan, Malaysia in 1997. Current Paid-up Capital registered at USD12million. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL Since establishment of BEST Re branch office in Labuan, Malaysia in 1999, BEST Re has established a strong partnership and strategy alliance with ARIL in educating and promoting retakaful and takaful business in Malaysia and other ASEAN countries. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL Capitalised with strong and close relationship of ARIL with most of the takaful operators in ASEAN countries and BEST Re technicality in Retakaful and conventional reinsurance business, BEST Re and ARIL has formed a close and strategy alliance and partnership to market and secure retakaful business in this region. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL This relationship has further enhanced when BEST Re and ARIL are working hand-in-hand to quote and lead few treaty programme in Malaysia, Brunei and Sri Lanka. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL For instance, in 2003, our partnership with ARIL have successfully assisting a conglomerate in Malaysia to set up a reinsurance programme for its captive insurance company in Labuan to insure against its core business operation in plantation, property, real estate, services and tyre manufacturing. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL For this conglomerate programme, historically this company insured his property under a takaful operator in Malaysia. Due to the historical good insurance results and house keeping and risk management, the company decide to set up a captive insurance in Labuan to self insure his property in Malaysia. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL With good rapport of ARIL, we have been approached to structure a risk and cat XOL programme to protect this newly set up captive insurance company. BEST Re has invited by ARIL to provide technical support to join lead and quote for this XOL programme. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL We have completed to designing this programme from sketch which inclusive developing their risk profile, loss profile and analysing the risks individually. Finally, our proposed XOL programme has been taken up by the company and supported by more established professional reinsurers such as AIG and Swiss Re. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL A conglomerate in Malaysia Set up a Captive Insurance in Labuan To protect all its business operations and property in Malaysia mainly in plantation, real estate, services and manufacturing Excess of Loss Programme to Protect this Captive Insurance Company BEST RE and ARIL work hand-in-hand to programme and lead the XOL treaty BEST RE ARIL STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL BEST RE Provide treaty technical support and XOL rating tool ARIL Close business relationship with most of the Takaful Operators and Islamic organisation in Malaysia Quote and lead the Risk XOL programme for this Captive Insurance Company Risk XOL: USD5mn X’s USD8mn Cat XOL quoted and lead by Swiss Re (Due to our capacity constraint) Supported by well pronounce professional reinsurers such as Swiss Re & AIG STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL In 2004, BEST Re and ARIL, once again working closely to assist the first takaful operator in Pakistan for setting up their retakaful treaty programme. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL Once again, we are setting up a retakaful programme for this takaful operator from sketch by assisting the company to design an appropriate treaty retakaful programme according to their business plan and philosophy. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL BEST Re and ARIL always working in the true spirit of sharing and supporting each others in all aspect of Retakaful and Takaful operations. STRATEGY ALLIANCE AND PARTNERSHIP WITH ASEAN RETAKAFUL INTERNATIONAL (LABUAN) LIMITED, ARIL. ARIL as a scheme manager for the Asean Takaful Group (ATG) Pool, also helping BEST Re to become a full member in ATG group. Our working relationship and partnership with ARIL has truly shown spirit of brotherhood as practicing in Islamic world.