The GCC Takaful Market Report 2021 provides insights into trends, growth, and forecasts from 2021-2026, highlighting the influence of the Muslim population and ethical investment policies.
The GCC takaful market report provides a deep and thorough evaluation of the market based on its segments including type, end-use, and region. The report tracks the latest industry trends and analyses their overall impact on the market. It also evaluates the market dynamics, which cover the key demand and price indicators, and studies the market on the basis of the SWOT and Porter’s Five Forces models.
Report Metrics
Historical Year: 2015-2020
Base Year: 2020
Forecast Year: 2021-2025
Takaful refers to a Sharia-compliant insurance system that involves the mutual donation of money from all participants into a common pool, guaranteeing each other support in case of theft, loss, damage, etc. This system is based on principles of shared responsibilities and aims to promote harmonious living, cooperation, and protection of community members against unpredictable mishaps. Takaful policyholders regularly contribute monetarily under the management and supervision of an insurance company. The surplus amount invested is then used in making investments to earn higher profits for the policyholders.
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GCC Takaful Industry Trends and Drivers:
The expanding Muslim population across the GCC region represents one of the key factors driving the takaful market. Besides this, the increasing penetration of traditional insurance is relatively low in affluent Muslim areas. As a result, takaful is considered the primary instrument for raising insurance awareness.
Moreover, takaful is representing a strong business proposition with a rising share of non-Muslim customers on account of price competitiveness and ethical investment policy. All of the factors mentioned above are further projected to bolster the GCC takaful market in the coming years.
Browse complete report with tables of contents and list of figures & tables: https://www.syndicatedanalytics.com/gcc-takaful-market
GCC Takaful Market Segmentation:
Competitive Landscape:
The report also provides insights on the competitive landscape of the takaful with the leading players profiled in the report.
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The main topic is the analysis and forecast of the GCC Takaful market from 2021 to 2026, focusing on trends and growth drivers.
The expanding Muslim population and low penetration of traditional insurance in affluent Muslim areas drive the market.
Takaful appeals to non-Muslims due to its price competitiveness and ethical investment policies.
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