When Jens Reisch, CEO Allianz Life Indonesia, interviewed by REPUBLIKA, the journalists was surprised with his fluency in talking in bahawa. Topic of the interview was about Allianz Sharia or known as takaful product.
Allianz Indonesia start offering sharia products in 2006. The reason Allianz chose Indonesia as the first company in Asia Pacific to sell sharia product is the fact that Indonesia has the greatest moslem population in the world. Moreover, insurance penetration in Indonesia is still low. In Asia, besides Indonesia Allianz also offer takaful product in Bahrain.
Indonesia wil become the hub for sharia in Asia. Currently Allianz is preparing all aspects concerning the offering of sharia product outside Indonesia. Allianz will soon open sharia market in Malaysia.
Currently 10% of Allianz Life total premium income comes from sharia. In average new business premium of Sharia is around IDR 2.5 billion per month.
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