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| Line 1: |
Line 1: |
| − | The Role of International Insurance Companies
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| − | in the opening of frontiers: development of
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| − | new products
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| − | (Takaful)
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| − | Sohail Jaffer
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| − | Partner, FWU Group
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| − | FWU group won the Euromoney Islamic Finance Award
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| − | for being the "Best Islamic white label service provider“.
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| | | | |
| − | Contents
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| − | FWU’s International Business Model
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| − | International Bank Distribution and Strategic Product
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| − | Partners
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| − | Product Highlights and customer benefits
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| − | Dynamic Fund Selection and Allocation Model
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| − | FWU’s Value Added
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| − | FWU’s Retakaful Pooling Arrangement
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| − | FWU Group
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| − | 2
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| − |
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| − | FWU’s definition of Bancassurance
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| − | «Bancassurance is defined as
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| − | the delivery and distribution of
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| − | a suitable range of tailored
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| − | ‘bankable’ protection and long
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| − | term savings and pension
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| − | products designed to meet the
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| − | lifecycle needs of the
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| − | customer base of a bank or
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| − | other financial institution.»
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| − | 3
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| − |
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| − | FWU-GROUP‘s Core Business Competencies
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| − | Bancassurance - Asset Management - Factoring
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| − | Germany
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| − | Luxembourg The group is well
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| − | Austria positioned to meet the life
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| − | Italy assurance, investment
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| − | France
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| − | Saudi Arabia
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| − | and pension needs of
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| − | institutional and private
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| − | United Arab Emirates clients in Europe, Middle
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| − | Kuwait East and Asia with state of
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| − | Pakistan the art bancassurance &
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| − | Malaysia
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| − | Shari‘a compliant Life
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| − | products.
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| − | 4
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| − |
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| − | FWU Group’s International Business Model
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| − | Strategic Product
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| − | Clone international
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| − | Bancassurance Partners
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| − | success
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| − | FWU Shari’ah Board
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| − | &
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| − | Expertise Structured asset
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| − | management approach
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| − | Product &
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| − | process innovation Web-based POS &
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| − | Admin System
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| − | customer convenience commission factoring solution
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| − | tailored ‘white label’ solutions exclusive Retakaful solution
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| − | quality training and sales support selection of service providers incl.
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| − | custodian bank
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| − | 5
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| − |
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| − | Benefits of ‘White label’ Bancassurance Solution
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| − | Tailored customer Bank defines own
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| − | solutions commission level
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| − | Bank offers choice of
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| − | both conventional
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| − | Bancassurance and
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| − | Takaful products Structured asset
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| − | Seamless integration
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| − | mgt. approach
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| − | into Bank’s own brand
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| − | linked to open inv.
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| − | architecture
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| − | Bank has choice to participate in other
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| − | modules of the service value chain
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| − | (custodian, brokerage, transaction banking)
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| − | 6
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| − |
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| − | Contents
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| − | FWU’s International Business Model
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| − | International Bank Distribution and Strategic Product
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| − | Partners
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| − | Product Highlights and customer benefits
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| − | Dynamic Fund Selection and Allocation Model
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| − | FWU’s Value Added
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| − | FWU’s Retakaful Pooling Arrangement
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| − | FWU Group
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| − | 7
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| − |
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| − | FWU Group‘s international Bank distribution and
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| − | Strategic product partners
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| − | Bank Distribution Partners
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| − | FWU's existing distribution partners
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| − | Al Safat Takaful include: NCB in KSA and ADCB in
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| − | Company UAE
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| − | Kuwait
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| − | Bank Customers
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| − | EFU Life Insurance Aman Insurance
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| − | UAE
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| − | Pakistan
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| − | Takaful Ikhlas Al Ahli Takaful
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| − | Company
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| − | Malaysia Bank is Custodian of all customer
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| − | KSA
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| − | funds in the Savings Plan
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| − | Product administration, New product development,
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| − | and claims management Product launch support
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| − | Product management,
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| − | Customer statements Marketing & Training
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| − | Local Life support
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| − | Financial accounting
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| − | Insurance Product Partner Structured asset mgt.
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| − | Filing with local regulatory apporach
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| − | authorities Systems support to
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| − | Strategic Product Partner
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| − | FWU Int. Network and Bank Distribution
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| − | Dubai, KL Partner
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| − | Product enhancements &
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| − | & Luxembourg Shari’ah compliance
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| − | 8
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| − |
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| − | Contents
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| − | FWU’s International Business Model
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| − | International Bank Distribution and Strategic Product
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| − | Partners
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| − | Product Highlights and customer benefits
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| − | Dynamic Fund Selection and Allocation Model
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| − | FWU’s Value Added
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| − | FWU’s Retakaful Pooling Arrangement
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| − | FWU Group
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| − | 9
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| − |
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| − | Main product features and customer benefits
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| − | FWU Group‘s "White Label" Savings, Education and Retirement Plans –
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| − | Product Highlights
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| − | Product features Customer Benefits
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| − | Plan benefits are available to all bank
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| − | All bank customers are insurable
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| − | customers
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| − | No medical examination of bank
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| − | Eliminates important psychological
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| − | customer required (up to a defined
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| − | barrier
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| − | limit)
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| − | Transparent and cost efficient
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| − | Greater customer comfort
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| − | structure
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| − | Accelerated sales process using
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| − | Immediate risk cover for bank
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| − | FWU’s Point of Sale and
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| − | customer
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| − | Administration technology
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| − | Plan benefits are available
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| − | Bank customer convenience
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| − | immediately to all bank customers
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| − | 10
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| − |
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| − | Bank Annuity Income: Attractive Dynamics
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| − | Bank Income Growth – 5 year period
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| − | 7,000
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| − | 6,000
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| − | USD ('000)
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| − | 5,000
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| − | 4,000
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| − | Conservative
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| − | 3,000 Average
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| − | Best
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| − | 2,000
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| − | 1,000
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| − | -
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| − | Year 1 Year 2 Year 3 Year 4 Year 5
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| − | Conservative Average Best
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| − | Base Assumptions:
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| − | Number of Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,000 40,000 50,000
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| − | Average duration 15 years
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| − | Average monthly contribution $ 200
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| − | Lapsation rate 2 to 10 % p.a
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| − | Fund growth rate 7 % p.a
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| − | 11
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| − |
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| − | Cumulative Bank Income over a 5 year period
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| − | 20
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| − | US $ in Millions
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| − | 15
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| − | 10
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| − | 5
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| − | 0
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| − | Conservative Average Best 12
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| − |
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| − | Contents
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| − | FWU’s International Business Model
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| − | International Bank Distribution and Strategic Product
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| − | Partners
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| − | Product Highlights and customer benefits
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| − | Dynamic Fund Selection and Allocation Model
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| − | FWU’s Value Added
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| − | FWU’s Retakaful Pooling Arrangement
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| − | FWU Group
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| − | 13
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| − |
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| − | Structured Asset Management Approach
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| − | Objective Agreed funds
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| − | Investment target universe
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| − | process
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| − | FWU’s fund
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| − | selection and
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| − | allocation
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| − | model
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| − | Overweights the winners & Enhance return by
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| − | underweights the losers 15% to 25% p.a
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| − | 14
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| − |
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| − | FWU‘s Dynamic Fund Selection
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| − | and Allocation Model
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| − | Fund Selection Process
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| − | Based on Funds’ returns, risk and
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| − | correlation amongst each other,
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| − | funds are ranked from best to
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| − | worst => Each fund is given a
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| − | score, based on its ranking.
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| − | Using the above rankings
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| − | => Top eight funds are selected.
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| − | 15
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| − |
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| − | FWU‘s Dynamic Fund Selection
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| − | and Allocation Model
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| − | Allocation model (key value added)
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| − | Overweighting of the outperformer
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| − | Underweighting of the underperformer
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| − | 16
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| − |
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| − | Investment Proposal for Regular and Single Premium
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| − | Savings Plans
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| − | FWU‘s Dynamic Fund Select & Allocation Model
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| − | Strategy 1 Strategy 2 Strategy 3 Strategy 4
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| − | Conservative Balanced Growth Dynamic
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| − | Portfolio Portfolio Portfolio Portfolio
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| − | Investment in External Islamic Mutual Funds
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| − | Launched as internal funds of
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| − | FWU‘s local Takaful Product Partner
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| − | 17
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| − |
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| − | Investment Advantages of Pooling
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| − | Conservative Balanced Growth Dynamic
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| − | portfolio portfolio portfolio portfolio
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| − | 25:75 50:50 80:20 0-100
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| − | Cash
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| − | Custodian Equivalent
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| − | Bank
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| − | Equity Pool
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| − | Pool
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| − | Direct Investment in:
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| − | Sukuk
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| − | Murabaha
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| − | Trade-Finance 18
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| − |
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| − | Contents
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| − | FWU’s International Business Model
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| − | International Bank Distribution and Strategic Product
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| − | Partners
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| − | Product Highlights and customer benefits
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| − | Dynamic Fund Selection and Allocation Model
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| − | FWU’s Value Added
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| − | FWU’s Retakaful Pooling Arrangement
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| − | FWU Group
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| − | 19
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| − |
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| − | The value added – why FWU Group
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| − | ENTREPRENEURIAL INNOVATION
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| − | PARTNER
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| − | Customised Sophisticated Point of
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| − | product design Sale and Administration
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| − | System
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| − | Product training
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| − | Dynamic funds select and
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| − | and sales support
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| − | allocation model
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| − | Business simulation
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| − | model Cost efficient Agency structure
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| − | Regional service Unique Retakaful arrangement
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| − | hubs
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| − | 20
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| − |
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| − | Contents
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| − | FWU’s International Business Model
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| − | International Bank Distribution and Strategic Product
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| − | Partners
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| − | Product Highlights and customer benefits
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| − | Dynamic Fund Selection and Allocation Model
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| − | FWU’s Value Added
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| − | FWU’s Retakaful Pooling Arrangement
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| − | FWU Group
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| − | 21
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| − |
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| − | FWU-Group‘s Exclusive Retakaful Pooling Arrangement
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| − | Hannover Re
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| − | („AAA rated“,
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| − | 3rd largest
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| − | FWU – GROUP life Reinsurance)
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| − | Pooling
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| − | Administrator Wakeel/Trustee
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| − | -Data processing Arrangement - Fee Basis
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| − | and administration - 100% profit redistribution
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| − | Asset Management - Quard Hasna
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| − | - Shari‘ah compliant Investments
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| − | Establishment of insurance provider through joint venture or strategic cooperation
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| − | agreement
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| − | Dubai Islamic Eastern
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| − | Insurance Al Ahli Takaful
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| − | Company Insurance & Al Safat Takaful Federal
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| − | Takaful
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| − | Ikhlas
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| − | Partners NCB/FWU / IFC Reinsurance Company Union Life
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| − | SDN BHD
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| − | AMAN EFU
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| − | Bank distribution partners in the following markets
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| − | KSA UAE Kuwait Pakistan Malaysia
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| − | Distribution- The National Abu Dhabi
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| − | Commercial Bank Commercial Major Bank Major Bank Major Bank
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| − | Partners Jeddah Bank
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| − | 22
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| − |
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| − | Contents
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| − | FWU’s International Business Model
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| − | International Bank Distribution and Strategic Product
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| − | Partners
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| − | Retakaful Pooling Arrangement
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| − | Structured Asset Management Approach
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| − | FWU’s Value Added
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| − | FWU’s Retakaful Pooling Arrangement
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| − | FWU Group
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| − | 23
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| − |
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| − | FWU-GRUPPE
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| − | An entrepreneurial and institutional partnership
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| − | Dr. Manfred J. Dirrheimer and Swiss Re Frankona
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| − | Rückvers. AG,
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| − | Partners Munich
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| − | 95% 5%
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| − | FWU AG
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| − | Munich, Luxembourg, Dubai, Kuala Lumpur
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| − | 74,9% 80% 100% 100% 13,25% 10%
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| − | ATLANTICLUX Life PREMIUM SELECT Branch Luxemburg FWU Commission FWU Payment Al Ahli Takaful Wave Asset
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| − | Insurances S.A. LUX S.A. Factoring GmbH Services GmbH Company Management AG
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| − | Luxembourg Luxembourg International HQ Munich Munich Jeddah, KSA Hamburg
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| − | 25,1% 25,1% Branch Dubai 13,25% 30% 7,5% 90%
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| − | Regional HQ ME
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| − | Branch VHV IFC International Finance National Commercial VHV
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| − | Versicherungen, Cooperation Bank, Versicherungen,
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| − | Bolzano
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| − | Hanover Washington Jeddah, KSA Hanover
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| − | Branch Kuala
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| − | Lumpur
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| − | Regional HQ FE
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| − | 24
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| − |
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| − | FWU Group – Profile
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| − | The FWU Group is an entrepreneurial financial services group with
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| − | headquarters in Munich, Germany.
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| − | Further offices are located in Luxembourg and Dubai Internet City (DIC).
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| − | Group shareholders include GE Frankona Re AG, an international re-
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| − | insurer, and European banks and insurance companies.
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| − | Core activities are Bancassurance, Savings & Pension Plans and Asset
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| − | Management.
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| − | Group subsidiaries include:
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| − | – an Asset Management Company (PREMIUM SELECT LUX S.A.)
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| − | – a Life Insurance Company (ATLANTICLUX S.A.)
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| − | Both are based and regulated in Luxembourg.
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| − | 25
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| − |
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| − | Contact
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| − | Mr. Sohail Jaffer
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| − | Partner, FWU Group
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| − | 2, Rue Sainte Zithe
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| − | L-2763 Luxembourg
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| − | Email: s.jaffer@fwugroup.com
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| − | Tel: +352 – 2 61 97 700
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| − | Fax: +352 – 2 61 97 800
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| − | Internet: www.fwugroup.com
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| − | The information in this presentation does not constitute a sales offer, investment advice or an offer for the
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| − | acquisition of financial products or instruments, and shall not in this regard imply legal obligations for the
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| − | FWU Group or anybody else towards the readers of this presentation.
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| − | This presentation is solely intended to provide information on matters of interest for the readers and such
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| − | information is not meant to replace the knowledge and the judgment of the readers who should make all
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| − | appropriate inquiries.
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| − | 26
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