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Malaysia introduced an RBC framework for its conventional insurance industry in 2009. In 2011, enhancements to the RBC framework were completed. In an effort to improve the overall Takaful regulatory framework, BNM issued new operational and valuation guidelines on 23 September 2010. BNM further issued the draft of risk-based capital (RBC) guidelines for Takaful operators in April 2011 and gathered the industry's feedback (Dhesi, 2012). The proposed Takaful RBC framework appears to be similar to that imposed for a conventional business. Parallel to its counterpart, Takaful operators are obliged to have at least 130% of ISSN 1941-899X 2015 www.macrothink.org/jmr 2 supervisory capital-adequacy ratio (CAR). The minimum CAR imposed is formulated so that Takaful operators have sufficient capital in the shareholders' fund to meet any shortage in Takaful fund. Capital adequacy is a theoretical amount of capital that is required by each insurance company in order to meet payment obligations and support everyday operation without becoming insolvent. The same methodology and assumptions as outlined in the RBC requirements for conventional business have been used to determine each of these capital charges (Dhesi, 2012). However, Conventional insurer and Takaful operators are having different types of risk for their operations (Obaidullah, 1998). Takaful operators also adopt different types of operating models (mudharabah, wakalah and hybrid). The RBC-framework for conventional insurers provides detailed guidelines on the estimation of assets by considering the different types of risks related. Still, the RBC framework for Takaful operators insufficiently addresses the risk that relevant to Takaful operator's activities. The main point that distinguishes Takaful operators and its counterparts is in terms of the sharing of risk with customers. Journal of Management Research

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<p>This paper presents a study on mortality rates and life expectancy improvements among elderly people in Malaysia. The central age-specific mortality rates will be analyzed according to genders. The expectation of future lifetime of these old age people will be estimated using the actuarial life table approach. Two different types of life table will be developed, including life table for males and females--- to compare the results of mortality rates and life expectancies between genders. Results show that, mortality rates of Malaysian elderly, for both males and females are increasing almost in linear pattern by age, and this trend is consistent from 1950 to 2015. Comparison between genders shows that mortality of elderly females is generally lower than males at almost all ages. Nonetheless, mortality rates of Malaysian elderly males are declining faster than Malaysian elderly females. Life expentancies of females are higher than males for age groups 60 to 70, and lower than males for age 75 and above. Results also indicate that Malaysian elderly popultion is aging faster from previous generation in which elderly males age 85+ in 2010-2015 can live longer by 123% than thise in 1950-1955.</p>