Takaful premiums to rise as demand grows for medical cover: Moody's
Published 09 Jun,2021 via Muscat Daily - Growth prospects for Islamic insurance, or takaful, remain healthy in the GCC countries helped by their large Muslim populations, relatively low insurance penetration and rising demand for medical cover, Moody's Investors Service said in a report on Wednesday.
"We expect takaful premiums to keep growing moderately in the next two to three years, helped by rising demand for medical insurance as more GCC, African and southeast Asian countries introduce compulsory health cover," said Mohammed Ali Londe, senior analyst at Moody's.
"The recent adoption of risk-based capital regulation in key takaful markets, and takaful insurers' continued embrace of digitalization, are further positive factors," he said.
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