Underwriting The total new Underwriting Takaful Quarterly business business Department Committee reporting written for different products will be reported by the Underwriting Department to the Management. Claims Total claims Claims Takaful Quarterly settlement settled for Department Committee different reporting products and business lines will be reported by the Claims team to the Takaful Committee Re-takaful Returns to Re-Takaful Re-Takaful Quarterly Re-Takaful reporting Department operators operators detailing business transacted and claims incurred Stress testing Stress testing Risk Audit Annually and scenario and scenario Management Committee analysis analysis will function be conducted on an annual basis and the results reported to the Audit Committee.
Underwriting business reporting The total new business written for different products will be reported by the Underwriting Department to the Management. Underwriting Department Takaful Committee Quarterly Claims settlement reporting Total claims settled for different products and business lines will be reported by the Claims team to the Takaful Committee Claims Department Takaful Committee Quarterly Re-takaful reporting Returns to Re-Takaful operators detailing business transacted and claims incurred Re-Takaful Department Re-Takaful operators Quarterly Stress testing and scenario analysis Stress testing and scenario analysis will be conducted on an annual basis and the results reported to the Audit Committee. Risk Management function Audit Committee Annually
21)%2090%20pgs%20Principles%20of%20Risk%20Management%20for%20Takaful%20Policies%20&%20Procedures.docx