With bottom-line profitability on the general Takaful front facing stiff competition from a relatively soft market, family Takaful is seen as a long-term and sustainable proposition with strong bottom-line expectations. Though the challenges of matching the long-term liability profile of family Takaful with similar duration Shariah-compliant assets remain, higher profit margins and the potential for surplus sharing make family Takaful a more viable long-term proposition and ideally placed to meet the ‘spiritual’ dimensions of Takaful.

This second Milliman Global Family Takaful Report summarizes the quantitative and qualitative analyses of the family Takaful industry by key regions and delivers insight into overall market trends and current hot topics. In particular, we provide an in-depth analysis of the rapidly developing Indonesian Takaful market, locally termed Syariah. We also consider the distribution channels available in key family Takaful markets.