scholarly journals The Role Of Insurance Companies in Financing Investment Comparative Study between Qatar Commercial Company and Qatar Islamic Insurance Company

2018 ◽  
Vol 4 (3) ◽  
pp. 8
Author(s):  
Ammar Shihab Ahmad
Keyword(s):  
Financial Institutions ◽  
Insurance Companies ◽  
Insurance Company ◽  
Local Production ◽  
Economic Cycle ◽  
Commercial Company ◽  
Weak Side ◽  
Islamic Insurance ◽  
New Jobs

Insurance companies are one of the most important financial institutions in the financial sector, as they play a very important role of transferring the risk from the weak side of the (insured) who can be a natural person and Omnawi to the most able to bear the risk of the (insured) The insurance company, and hence when the insured contract with the insured receives compensation when the risk agreed by the insurance company in return for payment of insurance premiums for the company, and this role is important in the continuity of the insured in the exercise of their economic and social activities and non-stop as a result of receiving compensation at the time of danger , Which is not They are in their normal lives practicing if they have insurance for their requirements or the survival of their companies within the economic cycle if they have a lock on their companies, and the insurance companies Which will contribute to giving insurance companies an opportunity to invest the accumulated premiums directly through the establishment of companies by them, or investing the premium money indirectly through the provision of loans or purchase of securities from disability units Which provides the appropriate funding for the establishment of its companies, which leads to increase local production and provide new jobs for the members of the community in which it operates, and there are two types of insurance companies (commercial and Islamic) and both types serves the economy in which they work, but whichever is the best ? Hence, the goal of the research is to compare between them and to indicate which is better.

scholarly journals HUBUNGAN ANTARA LEMBAGA KEUANGAN SYARIAH DI INDONESIA PERIODE 2014-2018

2020 ◽  
Vol 7 (2) ◽  
pp. 345
Author(s):  
Maulidah Atha Mukhlifah ◽  
Sylva Alif Rusmita
Keyword(s):  
Financial Institutions ◽  
Life Insurance ◽  
Capital Market ◽  
Insurance Companies ◽  
Islamic Banking ◽  
Insurance Company ◽  
Process Data ◽  
Islamic Financial Institutions ◽  
Islamic Insurance ◽  
The Relationship

This study is to determine the relationship between Islamic financial institutions, both bank and non-bank financial institutions in Indonesia in the 2014-2018 period. This study uses the VAR method to process data. The results of this study are contributions from Islamic-based financial institutions in Indonesia. The Islamic capital market has a positive relationship with Islamic life insurance. This happens because, in developing countries like Indonesia, life insurance is more influential than Islamic general insurance. The relationship that occurs in the Islamic capital market and life insurance occurs because of the role of the insurance company that will buy shares in the Islamic capital market. Then, related to a negative relationship between Islamic banking and Islamic insurance. It is because every credit given by the bank will be charged for insurance. The greater the value of the credit, the higher the contribution paid. This will be considered by those who will take credit at the bank. Meanwhile, insurance companies themselves are not bound by two other financial institutions. This happens because insurance companies get capital from third parties or their customers.Keywords: Islamic Financial Institutions, Islamic Capital Markets, Islamic Banking, Islamic Insurance, VAR

scholarly journals PERAN AGEN ASURANSI SYARIAH DALAM MENINGKATKAN PEMAHAMAN MASYARAKAT TENTANG ASURANSI SYARIAH

2020 ◽  
Vol 5 (1) ◽  
pp. 19-38
Author(s):  
Edi Hariyadi ◽  
Abdi Triyanto
Keyword(s):  
Public Understanding ◽  
Insurance Companies ◽  
Insurance Company ◽  
Access To Information ◽  
The Public ◽  
Library Research ◽  
Insurance Agent ◽  
The Subject ◽  
Islamic Insurance

ABSTRAK. Permasalahan yang akan diangkat dalam penelitian ini adalahbagaimana peran seorang agen asuransi dalam meningkatkan pemahaman terhadapa asuransi takaful. Dalam penelitian ini juga berusaha menjawab bagaimana sikap perilaku nasabah terhadap eksistensi asuaransi syariah. Kedua bagaimana kerja keras seorang agen asuransi syariah dalam meningkatkan kesadaran masyarakat. Model penelitian ini adalah penelitian kepustakaan. Hasil daripada penelitian ini, agen memiliki peran dalam mengakses informasi, menjaga image asuransi syariah, memberikan solusi dan konsultasi terhadapnasabah yang prospektif. Dengan begitu, pemahamanan masyarakat akan manfaat takaful akan menjadi lebih baik.Keywords: Agent Asuransi Syariah, Peran Agen asuransi syariah,pemahaman masyarakatABSTRACT. The subject matter to be discussed in this paper is how the role of an Islamic insurance agent in increasing public understanding of Takaful. In addition this paper will try to answer: how people's attitude toward the existence of Islamic insurance; and how should the efforts of an Islamic insurance agent to increase insurance awareness for the community. This paper focuses the discussion of an agent as an intermediary between the Takaful Islamic insurance company with the community. The method used in this paper is to study literature (Library Research), namely by rethinking simultaneously collects some writing and previous research results related to the presence and role of thefunction of an agent. This results in writing that there are a few roles Takaful agent, such as access to information, guard the good image of Islamic insurance companies, power marketers Islamic insurance products, providing solutions and services to prospective customers as well as provide insight to the public right of Takaful. On the basis of the understanding of Takaful then the public will know and understand the importance of using Takaful.Keywords: Islamic Insurance Agent, Role of Agent, Understanding of society

Managing uncertainty in a general insurance company

1990 ◽  
Vol 117 (2) ◽  
pp. 173-277 ◽  
Author(s):  
C. D. Daykin ◽  
G. B. Hey
Keyword(s):  
Computer Model ◽  
Flow Model ◽  
Insurance Companies ◽  
Simulation Methods ◽  
Insurance Company ◽  
Practical Applications ◽  
General Insurance ◽  
Alternative Approaches ◽  
The Impact

AbstractA cash flow model is proposed as a way of analysing uncertainty in the future development of a general insurance company. The company is modelled alongside the market in aggregate so that the impact of changes in premium rates relative to the market can be assessed. An extensive computer model is developed along these lines, intended for use in practical applications by actuaries advising the management of genera1 insurance companies. Simulation methods are used to explore the consequences of uncertainty, particularly in regard to inflation and investments. Some comments are made on the role of actuaries in general insurance. Alternative approaches to describing the behaviour of an insurance firm in the market are considered.

Analysing the AAOIFI Sharīʿah standard on zakat

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Khurram Parvez Raja
Keyword(s):  
Financial Institutions ◽  
Islamic Law ◽  
Financial Statements ◽  
Insurance Companies ◽  
Single Individual ◽  
Content Type ◽  
Long Run ◽  
Islamic Financial Institutions ◽  
The Law ◽  
Islamic Insurance

Purpose The Sharīʿah Standard No. (35) issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) aims to identify the zakāt base for institutions (including Islamic insurance companies) as well as the subsidiary and the mother company of the institution (the company). By zakāt base, the standard means the items of financial statements that should or should not be included in the calculation of the zakāt base, and the liabilities or allocations that should or should not be deducted from zakatable assets. The standard also covers payable zakāt rates, disbursement of zakāt funds on the eight categories of zakāt recipients and the rulings pertaining to disbursement. The focus then is on companies or corporations. There is no indication in the aims as to who owns the wealth of the corporation, that is, whether it is the company itself or it is the shareholders and whether it is treated as a joint wealth of the shareholders or of a single individual in the form of the company. The author will rely on this issue as one factor on the basis of which the standard is to be judged. Design/methodology/approach Quran and hadith. Works of earlier jurists. Findings In this study, the author has summarized the provisions of zakāt according to the traditional law, but only those that are relevant for the financial institutions and the standard issued by the AAOIFI. After that, the author mentioned the major points that have been addressed by the standard. In the last section, the author has shown that the rulings of the Islamic Fiqh Academy and the AAOIFI on zakāt are totally confusing and merely a reproduction of the rulings of traditional law. The main reason for this confusion is that the nature and entity of a corporation have not been addressed and have been treated like a partnership, thus, jumbling up the entire issue of zakāt through banks. Originality/value The main purpose in undertaking this original work is to examine the AAOIFI Sharīʿah Standards from the perspective of traditional Islamic law, that is, the law of the senior schools as laid down in their authentic manuals. If there is an extensive deviation from this law, then this must be pointed out in the hope that it will be corrected by the concerned institution and the banks that adopt these standards. Neglecting such a corrective action for long will result in damage not only to these institutions in the long run but also to the law of Islam that has been so carefully crafted over centuries. The purpose is to show how far this standard deviates from traditional Islamic law and claims to be called the authentic view on a particular subject. Nevertheless, it is not the purpose of this work to explain and elaborate on the meaning and utility of these standards.

scholarly journals DETERMINAN SOLVABILITAS DANA TABARRU’ PADA PERUSAHAAN ASURANSI SYARIAH DI INDONESIA

El Dinar ◽  
2020 ◽  
Vol 8 (1) ◽  
pp. 52
Author(s):  
Iis Indah Lestari ◽  
Hasan Mukhibad
Keyword(s):  
Financial Services ◽  
Insurance Companies ◽  
Sampling Techniques ◽  
Panel Regression ◽  
Insurance Company ◽  
Variable Size ◽  
Units Of Analysis ◽  
Size Type ◽  
Islamic Insurance ◽  
Descriptive Statistical Analysis

<p><strong><em>Abstract</em></strong></p><p><em>Solvency of tabarru’ funds can indicate a company's ability to pay obligations Islamic insurance claims payments to the participants or policyholders. Related to this, the Financial Services Authority has set a minimum limit of solvency margin tabarru’ funds which amounted to 30% which must be fulfilled by Islamic insurance companies. However, there are three Islamic insurance companies that have a solvency tabarru’ funds under the terms of at least 30%, such as PT Asuransi Astra Buana, Takaful Protection Jaya and PT Tugu Pratama Indonesia. The purpose of this study was to determine the effect of firm size, type of company, Retakaful premiums, investment, wealth available to qardh, and operating expenses to fund solvency tabarru on Islamic insurance company in Indonesia. The population in this study </em><em>was</em><em> Islamic insurance company over registered at the Financial Services Authority (OJK) in the year 2013-2018. By using purposive sampling techniques, sample end of the study amounted to 14 mining companies with 84 units of analysis. Meanwhile, </em><em>the </em><em>analysis us</em><em>ed </em><em>descriptive statistical analysis and panel regression analysis with Eviews 9. The results showed that the return on investment and wealth available to qardh positive and significant impact on the solvency of  tabarru’ fund. Variable size of company, type of company, Retakaful premiums, and operating expenses partially </em><em>have </em><em>no effect on the solvency of the tabarru’ fund. </em></p>

scholarly journals Corporate governance on financial performance of insurance industry

2015 ◽  
Vol 13 (1) ◽  
pp. 1201-1209 ◽  
Author(s):  
Gardachew Worku Fekadu
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Financial Institutions ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Regulatory Body ◽  
Discretionary Power ◽  
Insignificant Effect ◽  
The Impact

The role of corporate governance in financial institutions differs from that of non- financial institutions for the discretionary power of the board of directors would be limited especially in regulated financial systems where financial institutions are obliged to function through legislative and prescriptive procedures, policies, rules and regulations. This study, therefore, was aimed at examining the impact of corporate governance on the performance of closely regulated Ethiopian insurance Industry. The study employed explanatory research design with an econometric panel data of 10 Insurance companies that covers the period 2007 to 2014. Board size, board independence and board diversity have negative and insignificant effect on the performance of insurance companies while size and independence of audit committee and frequency of board meetings have positive but insignificant effect on the performance of insurance companies in Ethiopia. Thus it could be concluded that all corporate governance mechanisms have insignificant effect on the performance of insurance companies measured by return on asset. This vividly affirms that the role of board of directors in closely regulated financial sector is dismal and insignificant for they have limited discretionary power to exercise as board of directors. Thus it would be recommendable if the regulatory body could relax its prescriptive and stringent policies and devolve its power to board of directors without endangering the viability of insurance companies.

FINANCIAL MANAGEMENT IN THE ACTIVITY OF INSURANCE COMPANIES

2020 ◽  
Vol 18 (Suppl.1) ◽  
pp. 395-400
Author(s):  
Ts. Andreeva
Keyword(s):  
Risk Management ◽  
Financial Management ◽  
Insurance Companies ◽  
Complex Nature ◽  
Insurance Company ◽  
Independent Unit ◽  
Integrated Risk ◽  
Analysis And Synthesis ◽  
Integrated Risk Management

The article defines the essence and justifies the need for financial management in the activities of insurance companies. PURPOSE: The aim of the article is to bring out the specifics of financial management in insurance and outline the advantages of controlling as a function and part of the management of the insurance company to ensure the necessary solvency. METHODS: The systematic and structural approach, analysis and synthesis, including, study of literature sources and analysis of the existing situation in the practice of the insurance company are used. RESULTS: The results are about highlighting the role of risk management in financial management, as well as the importance of factors - gross technical provisions and others, for risk management of the insurance company. CONCLUSION: Тhe complex nature of financial management requires integrated risk management, which requires the establishment of an independent unit and / or position in financial management and risk management.

scholarly journals ASPEK-ASPEK SYARIAH DALAM ASURANSI SYARIAH

2017 ◽  
Vol 1 (01) ◽  
Author(s):  
Muhammad Tho’in ◽  
Anik Anik
Keyword(s):  
Data Collection ◽  
Insurance Companies ◽  
Descriptive Data ◽  
Investment Funds ◽  
Operational Management ◽  
Qualitative Descriptive ◽  
Islamic Insurance ◽  
Takaful Insurance ◽  
Collection Methods

This study is to analyze aspects of sharia in Islamic insurance. Theories related to this study include about Ijara, Ijara financing, DSN-MUI fatwa, Ijara financing application. This study is qualitative descriptive. Data collection methods used in this research is the study of literature. The results showed that Takaful insurance aspect is clear then can be applied in the system of Islamic insurance. Takaful is a system where the participants / members / participants donate or donate part or all of the contribution that will be used to pay claims, in case of disaster experienced by most participants/members/participants. The role of the company here is limited to the operational management of insurance companies and investment funds / contributions received or transferred to the company.Keywords: Aspects of Sharia in the Takaful and Insurance Non-Sharia

scholarly journals “MAQASID SHARIA INDEX”: ARAH BARU KINERJA KEUANGAN PERUSAHAAN ASURANSI SYARIAH DI INDONESIA

2019 ◽  
Vol 1 (1) ◽  
pp. 60-76
Author(s):  
Nugroho Heri Pramono
Keyword(s):  
Financial Performance ◽  
Sampling Technique ◽  
Simple Random Sampling ◽  
Social Reporting ◽  
Insurance Companies ◽  
Insurance Company ◽  
Test Results ◽  
Islamic Insurance ◽  
Positive Effect ◽  
Research Show

This reseacrh is aimed to analyze the influence of Islamic social reporting index and sharia compliance disclousure to financial performance of Islamic insurance company in Indonesia which is proxied by the value of maqasid sharia. This research was conducted from 2012 to 2014. The sample were used in this reseacrh 34 observations obtained from 12 Islamic insurance company in Indonesia for three years from 2012 to 2014. The sampling technique was used simple random sampling. The results of simultaneous research show that together Islamic social reporting index and sharia compliance disclousure have a significant positive effect to the financial performance of sharia insurance companies proxied with maqasid syariah index. However, based on the partial test results of Islamic reporting index variables and sharia compliance disclosure does not affect the financial performance of sharia insurance companies proxied with the value of maqasid syariah index.

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