Allianz syariah products for Indonesia

FRANKFURT: Allianz AG said its Indonesian unit is launching syariah-compliant insurance products, responding to “growing requests” from its customers and banking partners.

The insurer said customers could now buy life insurance, fire and motor vehicle policies that would be syariah-compliant.

Allianz's share of the Indonesian market is below 3%. The company said it predicted that the booming syariah market would help improve this penetration. Syariah banking in Indonesia grew by 88.6% in 2005. –

Source:
AFX-Asia
Tuesday February 7, 2006