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International

AXA Insurance Indonesia to close Shariah business unit

September 25, 2023 Reprints

PT Axa Insurance Indonesia is planning to close its Shariah business unit, in line with the Indonesian Financial Services Authority’s requirement for insurers to spin off their Islamic insurance units no later than 2026, Middle East Insurance Review reported citing Bisnis.com. The insurer’s takaful portfolio of policies will be transferred to another takaful company through a cancel and replace mechanism.

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AXA Insurance Indonesia to close Shariah business unit

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