Top 14 Takaful Companies in the World

The global takaful market size reached USD 36.57 Billion in 2024. As per the analysis by IMARC Group, the leading companies in the takaful market are constantly focusing on the development of new products and services that meet the evolving needs of customers, such as customized Takaful solutions for specific customer segments to enhance customer experience. They are also focusing on enhancing their risk management frameworks to ensure the sustainability of their businesses.

Leading companies are implementing robust underwriting processes, investing in technology to improve risk assessment, and diversifying their investment portfolios to mitigate market risks. Moreover, they are expanding their distribution channels and improving the accessibility of their services. They are consequently partnering with banks and other financial institutions to offer their services through their networks, as well as leveraging online and mobile channels to reach a wider audience. Looking forward, the market value is expected to reach USD 75.26 Billion by 2033, exhibiting a growth rate (CAGR) of 8.28% during 2025-2033.

From a sustainability perspective, Takaful naturally fosters ethical risk-sharing and investing principles, which appeal to socially responsible consumers and institutions. The industry focus on mutual support and collective responsibility appeals to worldwide trends in sustainability, and Takaful is thus a forward-looking insurance model that integrates financial protection with ethics.

Learn about opportunities, challenges, and trends in the global takaful market with IMARC’s market research report. Try a free sample today!

List of Top Companies Operating in the Takaful Industry Worldwide:

The global takaful market has several major players, including Abu Dhabi National Takaful Co. PSC, Amana Takaful (Maldives) PLC, Etiqa (Malayan Banking Berhad), Great Eastern Takaful Berhad, HSBC Amanah Malaysia Berhad, Prudential BSN Takaful Berhad, Qatar Islamic Insurance Company, Salama Islamic Arab Insurance Company, Standard Chartered Bank, Syarikat Takaful Brunei Darussalam Sdn Bhd, Syarikat Takaful Malaysia, Takaful Emarat, The Islamic Insurance Co, and Zurich Malaysia. More information about these companies has been provided below.

1. Abu Dhabi National Takaful Co. PSC

Abu Dhabi National Takaful Company (ADNTC) was established by Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Investment Company, making it a powerful player in the UAE takaful market. The company offers comprehensive Sharia-compliant insurance solutions including motor, property, general accidents, family, medical, engineering, and marine cargo coverage. Listed on the Abu Dhabi Securities Exchange (ADX) in 2005 with stock symbol TKFL, ADNTC operates across the entire UAE with offices in Abu Dhabi, Dubai and Al Ain. The company was awarded 'Takaful Company of the Year' by Middle East Insurance Industry Awards 2023, demonstrating its market leadership and commitment to excellence in Islamic insurance services.

2. Amana Takaful (Maldives) PLC

Amana Takaful (Maldives) PLC is the first and top Takaful operator in the Maldives formed to address the rising need for Sharia-compliant insurance services within the island nation. The firm is specialized in providing family and general Takaful products covering life insurance, medical cover, motor insurance, and property cover designed to suit the specific needs of Maldivian clients. With its Islamic values and local market acumen, Amana Takaful established a extensive distribution network in the fragmented islands through the use of digital platforms and collaboration with local businesses. The firm prioritizes sustainable development and community empowerment that is consistent with the environmental awareness of the Maldives and assisting the country's tourism-oriented economy through niche coverage of hospitality and marine enterprises.

3. Etiqa (Malayan Banking Berhad)

Etiqa, a member of the Malayan Banking Berhad (Maybank Group), is one of Malaysia's preeminent integrated Takaful and insurance companies. It operates on dual licenses with a presence in both conventional insurance and Takaful products to cater to Malaysia's multicultural society. Etiqa's product range comprises family Takaful, general Takaful, motor protection, health insurance, and investment-linked plans, backed by innovative digital solutions and wide-ranging distribution channels. The group has built a solid presence in Southeast Asia, with Singapore and regional tie-ups. Etiqa uses sophisticated technology and data analytics to improve customer experience, automate claims handling, and create customized insurance products. Its sustainability focus is on financial inclusion, SME growth, and ESG practices in its operations, making it a progressive player in the regional Takaful market.

4. Great Eastern Takaful Berhad

Great Eastern Takaful Berhad, a unit of Great Eastern Holdings Limited, is Malaysia's premier family Takaful player with strong regional reach. The company is focused on value-added family Takaful solutions comprising life protection, medical and health protection, education financing, retirement, and investment-linked Takaful products. Great Eastern Takaful has set up business in strategic Southeast Asian markets, catering to varied customer segments from retail and family customers to corporate businesses. The firm is known for innovation in product development, digitalization drives, and customer focus. Its technology capabilities encompass sophisticated underwriting software, mobile platforms, and web-based policy management systems. Great Eastern Takaful's sustainability program includes community health initiatives, financial education, and natural conservation efforts, reaffirming its dedication to shared value creation while staying a respected Takaful provider in the region.

5. HSBC Amanah Malaysia Berhad

HSBC Amanah Malaysia Berhad is the sole Islamic banking and Takaful business of the HSBC in Malaysia, offering Shariah-compliant full range of financial and insurance products. The company leverages HSBC's global know-how and extensive global network to provide cutting-edge Takaful products like family coverage, general insurance, corporate solutions and investment-linked plans. HSBC Amanah deals with retail and corporate clients, with specialized depth in dealing with multinational corporations as well as high-net-worth individuals who need Islamic finance solutions. The firm's technology platform is entirely connected to that of HSBC global banking, enabling smooth cross-border services and state-of-the-art digital offerings. Its environmental emphasis on sustainability aligns with HSBC Group's global pledge to social and environmental responsibility, such as green finance, sustainable investment products, and community development programs, that renders it a partner of choice for customers seeking Islamic compliance to go along with international banking capabilities.

6. Prudential BSN Takaful Berhad

Prudential BSN Takaful Berhad is an insurance company that provides a wide range of services in three main segments, including protection, prosperity, and health. The protection segment includes family death, permanent disability, hospitalization, women-specific disease, and finances. The health segment incorporates 43 critical disease treatments, cancer plans, and coverage for high medical expenses. Moreover, it offers artificial intelligence (AI) powered application that understands individual needs, provides relevant health information through deep AI learning technology, and connects with a doctor virtually.

7. Qatar Islamic Insurance Company

Qatar Islamic Insurance Company is a leading Islamic insurance company that offers insurance services for travel, motor, marine, fire, engineering, general, liability, life, balsam medical, money bankers, energy electronics, and computer. It further offers a family package and is also known for its customer service and strong financial performance. It also aims to help people achieve their aspirations for a bright future and attain a more secure financial position through their services.

8. Salama Islamic Arab Insurance Company

Salama Islamic Arab Insurance Company is one of the Middle East's most renowned Takaful operators with more than four decades' experience in Sharia-compliant insurance offerings. The firm offers a diversified product portfolio encompassing motor Takaful, health coverages, property insurances, marine and life Takaful services to UAE and regional markets. Salama has established a good reputation as a commercial lines expert catering to corporate clients across diverse industries like construction, manufacturing, trade, and services. Salama's technical capabilities comprise sophisticated claims processing systems, digital platforms, and customer relationship management tools to enhance operations and service delivery. Salama's CSR efforts are directed at supporting SME growth, road safety awareness, health and wellness programs, and environmental protection initiatives. With its extensive market experience, regulatory savvy, and adherence to Islamic insurance values, Salama continues to be at the forefront of the regional Takaful market growth and development.

9. Standard Chartered Bank

Standard Chartered Bank Takaful is the bank's commitment to Muslim clients through its extensive regional reach in Asia, Africa, and the Middle East. Through best-ranked operating partnerships for Takaful operators, the bank provides Shariah-compliant insurance products including life, health, motor, and property insurance. Standard Chartered's Takaful solutions leverage the bank's global reach, technology platform, and deep understanding of emerging markets to provide innovative Islamic insurance solutions. The bank's digital banking channels merge Takaft products smoothly, enabling customers to obtain end-to-end insurance and financial services from a single window. Standard Chartered's sustainability strategy includes championing financial inclusion, development of SMEs, and environmental and social governance norms in its business operations.

10. Syarikat Takaful Brunei Darussalam Sdn Bhd

Syarikat Takaful Brunei Darussalam Sdn Bhd is an Islamic insurance company recognized as a market leader for innovative products and services. It is one of the largest incorporated takaful operators that provide customers with shariah-compliant financial approaches designed to protect and fulfill their Islamic and moral obligations. It protects against motor and financing, motor, fire, medical, and accident. It aims to provide the best and highest quality of support needed along with its subsidiaries to focus on main corporate social responsibilities (CSR) drivers, such as Jalur Kasih and Blood Donations.

11. Syarikat Takaful Malaysia

Syarikat Takaful Malaysia Keluarga Berhad is one of the leading Islamic insurance companies with an intact financial position and expertise in the field of risk management to meet the needs of customers across our 24 service centers. Its products and services include personal and family, medicine, vehicle, and housing. It also offers services for employers, employees, assets and property, and business and management risk. It is committed to helping people achieve their aspirations for a bright future and a more secure financial position.

12. Takaful Emarat

Takaful Emarat is one of the top Sharia-compliant insurance providers in the UAE, offering comprehensive Takaful solutions to individuals, families, and businesses in the Emirates. Its main areas of business are family Takaful, health insurance, motor business, property insurance, and commercial lines serving different customer segments from expat communities to local corporations. Takaful Emarat has built a strong market position on the strengths of customer service excellence, competitive prices, and innovative products that adapt to the shifting needs of the UAE's vibrant economy. The technological capabilities of the company are exemplified through digital policy management platforms, smartphone applications, online claims settlement, and customer relationship management systems that enhance service provision and business efficiency.

13. The Islamic Insurance Co

The Islamic insurance company offers a wide range of insurance services, including fire and additional perils, medical expenses, motor, marine, life, personal accident, worker compensation, liability, comprehensive householder, engineering, contractor plants and machinery, electronic equipment, travel, banking, and plate glass. It recently organized an awareness session with the theme of customer service focusing on providing distinguished service, attracting new customers to the company, and achieving goals and aspirations for growth and development.

14. Zurich Malaysia

Zurich Life Insurance Malaysia Berhad is a multinational insurance company that offers a wide range of products to individuals and businesses, including life and health insurance, general insurance, and investment-linked products. It also assists in smart investment choices and planning for the future, insurance, and investments to offer variety, flexibility, and choice to the consumer. Moreover, it offers a single-premium investment-linked plan that aims to maximize investments with a diversified choice of local and foreign funds and optimizes the long-term goal of wealth creation.

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