The 3rd edition of the World Islamic Insurance Directory (WIID) has been published jointly by leading retakaful operator, Takaful Re and Middle East Insurance Review Incorporating Global Takaful.

The number of operators in the Takaful market has grown from 138 to more than 165, an increase of 19.6 per cent, according to the directory.

The figures collated from the market showed that the Takaful contributions had soared from $5.9 billion in 2006 to $7.2 billion in 2007 representing a sharp increase of 22 per cent, with the growth rates for 2008 expected to be about the same despite the global financial crisis, said Chakib Abouzaid, chief of Takaful Re.

'We are confident that the Directory will serve as a useful source of information and contacts in daily operations and will enjoy a prominent position on the desk of each and every professional involved in the blooming global Takaful market,' he added.

The Directory based on inputs collected from the Takaful and Retakaful operators around the world is intended to be as comprehensive as possible.

The WIID has a listing of Takaful operators in 23 countries including Sudan, Saudi Arabia and Iran and doesn’t as yet include the newcomers in United Kingdom and Canada as they haven’t completed their first year of operations.

Figures collated show that in terms of premiums, the GCC accounts for 35.5 per cent, the Far East for 12.1 per cent, and Africa 3.4 per cent of the global Takaful contributions received.

Iran alone accounts for 48.6 per cent of the market. In term of number of players, the GCC has 72 Takaful operators, Iran 18, Far East 35 and Africa 26.

The 3rd Edition will be officially launched at the 4th World Takaful Conference.-TradeArabia News Service