TKF1061 Quantitative Aspects of Takaful Operations

Module Description

This module presents on the financial aspects of Takaful, the concept of capital and the use of capital in Takaful operations. In this module participants will appreciate the effect of regulatory rules on capital requirements, Takaful fund solvency requirements, insurer’s admitted assets and the concept of risk-based capital (RBC).

At the end of this module, the discussion will be on the basic actuarial concepts and its function in computing the contribution rates, product pricing and managing surplus distribution.

Learning Outcomes

1. Effectively appraise the adequacy of financial aspects of Takaful.
2. Understand and explain the importance of prudent asset and liability management in a Takaful company.
3. Explain on the fundamental and technical basis of actuarial functions in Takaful companies.

 

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