Bahrain – “Takaud” presents opportunities for insurers
Monday, 10 03 2016, Category: Insurance and Reinsurance, Country: Bahrain
The Chief Executive Officer of “Takaud”, the savings, investment and pensions company Mr. Luc Métivier revealed that simplicity and quality are the essential elements of private pensions, which can be marketed and distributed by insurance companies in the regional markets in order to find efficient methods to decrease cost, increase benefits to citizens and make them available to millions of employees who seek better retirement planning.
Countries in all parts of the world rely on government retirement systems as the first pillar. The second pillar is represented by retirement systems whereas the third pillar is illustrated by personal savings.
Mr. Luc Métivier indicatd that developing countries need to develop the second and third pillars in order to complement government plans emphasizing that flexibility is essential at this level for insurance companies.
Source: Al Ayam