Published by IMARC Services Private Limited
Posted on September 9, 2021
7 min readLast updated: January 21, 2026
According to the latest report by IMARC Group, titled “Takaful Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global takaful market exhibited strong growth during 2015-2020. Takaful is an Islamic insurance concept based on the principle of mutual sharing of risks. In this type of insurance, the participants pool in a specific sum so as to provide aid at the time of need and guarantee that the losses will be distributed equally across each member. In takaful, the amount of contribution is decided according to the personal circumstances of members and the type of coverage they require. Takaful insurance companies serve as an alternative to commercial insurance companies as the latter violate the restrictions on interest, uncertainty and gambling principles which are outlawed in sharia. Recently, there has been a rise in the number of institutions that offer Islamic financial services which have aided in the expansion of takaful across the globe.
Request for a free sample copy of this report: https://www.imarcgroup.com/takaful-market/requestsample
Countries in South East Asia have implemented the Life Insurance and Family Takaful (LIFE) Framework which is expected to spur various market activities and enhance the sustainability of the takaful industry in the longer run. Apart from this, there has been a rise in the awareness among Muslims regarding the monetary benefits offered by takaful insurance. This has encouraged foreign insurance companies to collaborate with takaful insurance companies, in turn, expanding their worldwide market reach. Moreover, the demand for takaful insurance products is also rising amongst the non-Muslim consumers as it is an ethical investment policy, with strong growth prospects and price competitiveness. Despite these growth-inducing factors, the global takaful market is being impeded by the current inability of insurers to retain consumers. Looking forward, the global takaful market is expected to grow at a CAGR of around 11% during the forecast period (2021-2026).
Buy full report with table of contents: https://www.imarcgroup.com/takaful-market
Key Market Segmentation:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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According to the latest report by IMARC Group, titled “Takaful Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global takaful market exhibited strong growth during 2015-2020. Takaful is an Islamic insurance concept based on the principle of mutual sharing of risks. In this type of insurance, the participants pool in a specific sum so as to provide aid at the time of need and guarantee that the losses will be distributed equally across each member. In takaful, the amount of contribution is decided according to the personal circumstances of members and the type of coverage they require. Takaful insurance companies serve as an alternative to commercial insurance companies as the latter violate the restrictions on interest, uncertainty and gambling principles which are outlawed in sharia. Recently, there has been a rise in the number of institutions that offer Islamic financial services which have aided in the expansion of takaful across the globe.
Request for a free sample copy of this report: https://www.imarcgroup.com/takaful-market/requestsample
Countries in South East Asia have implemented the Life Insurance and Family Takaful (LIFE) Framework which is expected to spur various market activities and enhance the sustainability of the takaful industry in the longer run. Apart from this, there has been a rise in the awareness among Muslims regarding the monetary benefits offered by takaful insurance. This has encouraged foreign insurance companies to collaborate with takaful insurance companies, in turn, expanding their worldwide market reach. Moreover, the demand for takaful insurance products is also rising amongst the non-Muslim consumers as it is an ethical investment policy, with strong growth prospects and price competitiveness. Despite these growth-inducing factors, the global takaful market is being impeded by the current inability of insurers to retain consumers. Looking forward, the global takaful market is expected to grow at a CAGR of around 11% during the forecast period (2021-2026).
Buy full report with table of contents: https://www.imarcgroup.com/takaful-market
Key Market Segmentation:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: www.imarcgroup.com
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group
Other Reports by IMARC Group:
Refrigerated Transport Market: https://www.imarcgroup.com/refrigerated-transport-market
Chemical Logistics Market: https://www.imarcgroup.com/chemical-logistics-market
Power Transistors Market: https://www.imarcgroup.com/power-transistors-market
Baby Cribs and Cots Market: https://www.imarcgroup.com/baby-cribs-cots-market
Cervical Cancer Diagnostics Market: https://www.imarcgroup.com/cervical-cancer-diagnostics-market
Amino Acids Market: https://www.imarcgroup.com/amino-acid-technical-material-market-report
Interior Architectural Coatings Market: https://www.imarcgroup.com/interior-architectural-coatings-market
Fixed Satellite Services Market: https://www.imarcgroup.com/fixed-satellite-services-market
Television Advertising Market: https://www.imarcgroup.com/television-advertising-market
Electric Lawn Mower Market: https://www.imarcgroup.com/electric-lawn-mower-market
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