The takaful segment is expected to continue registering a high double-digit growth of around 20% through 2014. Insurers increasingly identified takaful as a high-growth, profitable segment.
The penetration rate of about 13% for family takaful (measured by number of life policies over population) is an indication of the latent potential for takaful versus conventional life insurance’s 55%. That said, the takaful industry is still at an early stage of development, with growth expected to outpace the growth of conventional insurance……………………………………….Full Article: Source